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The Nigerian equity market closed the week on a positive note, as key market performance indicators (the NGX-ASI and Market Capitalization) both appreciated by 1.13%. The uptick was primarily driven by investors’ bargain hunting in medium and large cap stocks with good fundamentals as well as sustained buying interest across key sectors. The Consumer goods sector and the Insurance sector recorded the largest w/w contribution with 4.51% and 3.07% respectively. Specifically, the market index (All-Share Index) added 1,694.33 basis points in today’s trading session, reflecting a 1.13% increase to close at 152,057.38, while the Market Capitalization also gained ₦1,080.13 billion, representing a growth of 1.13%, settling at ₦96.94 trillion. Hence, the market posted an overall positive performance on a week-on-week basis. NGX-ASI gained +1.76%, while investors’ wealth also increased by approximately ₦1.7 trillion.
Furthermore, the Total Volume of trades increased by +79.21% while the Total Value traded, on the other hand, declined by -33.49%. Approximately 1,504.91 million units valued at ₦21,820.93 million were transacted across 25,667 deals. As regards volume, STERLINGNG generated 31.64% to emerge the most traded, followed by FCMB (8.59%), TANTALIZER (6.69%), FIRSTHOLDCO (5.92%), and CONHALLPLC with 5.75%. On value traded, FIRSTHOLDCO generated 14.22% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, both AUSTINLAZ and UNIONDICON led by generating +10.00% each, trailed by TANTALIZER (+9.80%), ALEX (+9.78%), CHAMPION (+9.71%), AFRIPRUD (+9.68%), and twenty-eight others. A total of twenty-four (24) stocks depreciated. With a price depreciation of -7.42%, SOVRENINS topped the worst performers’ chart, followed by ROYALEX (-6.84%), OMATEK (-6.84%), EUNISELL (-5.88%), ETERNA (-5.63%), and LINKASSURE (-5.56%). Hence, the market breadth closed on a positive note as there were 34 gainers and 24 losers.
Finally, the market sectoral performance was positive today as four of the five major market sectors appreciated. The Consumer goods sector led by an increase of +3.82%, followed by the Industrial goods sector (+1.46%), the Banking sector (+0.08%), and the Insurance sector (+0.04%). Only the Oil & Gas sector declined by -0.03%.
Following the recently rebased data released by NBS, the country’s GDP stood at 3.98% in Q3’2025, marking a 26bps decline from the 4.23% recorded in Q2 2025. However, on a year-on-year basis, the growth rate in the third quarter of the year reflects a 12bps improvement compared to the 3.86% posted in Q3, 2024. The country’s GDP growth during the period under review was supported by expansions in both the
Oil and Non-Oil sectors.
Non-Oil Sector Growth and Contribution Increases
The non-oil sector contributed 96.56% to total GDP in Q3 2025, an increase from 95.95% in Q2 2025, but lower than 96.62% recorded in Q3 2024. Conversely, the Oil sector’s contribution dropped by 15.19% to 3.44% in Q3 2025, down from 4.05% in the preceding quarter, despite improvement in crude oil production.
Furthermore, in terms of growth, the Oil sector dipped by 14.62% points, recording a growth rate of 5.84% in
Q3 2025, compared to 20.46% in Q2 2025, while the non-oil sector recorded real GDP growth of 3.91%, up by 0.27% points compared to 3.64% in Q2 2025.
The country’s crude oil production averaged 1.64mbpd in Q3, 2025, which was higher than the daily average crude oil production of 1.47mbpd
recorded in the same quarter of 2024, but 0.04mbpd lower than the Q2’2025 production volume of 1.64mbpd.
Agricultural Sector Growth Strengthened Despite Rising Insecurity
Agricultural sector posted a real growth rate of 3.79% in Q3 2025, an improvement of 97bps from 2.82%
growth recorded in Q2 2025. Also, the sector’s performance expanded by 1.23% points when compared to Q3 2024, when it grew by 2.55%. The growth in the sector can be attributed to the harvest season, as well as improved mechanization, Export restriction for some raw products and encouragement of local production further boosted the sector’s growth. In addition, the sector contribution to the GDP increased, stood at 31.21% in Q3 2025, which was 505bps higher than 26.17% recorded in Q2 2025.
