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The Nigerian equity market concluded the week on a negative note, as key performance indicators showed mixed outcomes. The NGX-ASI declined by -0.09%, while the Market Capitalization gained 0.17%. The contrasting performances of these indicators can be attributed to the additional listing of 166,666,667 Ordinary Shares of 50 Kobo each from Presco Plc, as well as additional listing through Private Placement of Guaranty Trust Holding Company Plc’s 125,000,000 Ordinary Shares of 50 Kobo each at N80.00 per Share offered. Consequently, market index (All-Share Index) decreased by 156.91 basis points today, representing a fall of -0.09% to close at 165,370.40, while the Market Capitalization gained ₦184.12 billion, representing an increase of +0.17%, to close at ₦106.15 trillion. At the close of this week’s trading, investors gained an aggregate of ₦194 billion.
Also, market activities were down as the Total Volume of trades and the Total Value traded declined by -0.58% and -2.51% respectively. Approximately 687.39 million units valued at ₦14,984.07 million were transacted across 41,553 deals. As regards volume, VERITASKAP generated 11.80% to emerge the most traded, followed by NSLTECH (11.62%), DEAPCAP (4.88%), ACCESSCORP (4.54%), and ZENITHBANK with 4.48%. On value traded, ARADEL generated 15.53% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, ZICHIS led by generating +9.97%, then trailed by ABBEYBDS (+9.94%), RTBRISCOE (+9.93%), HMCALL (+9.90%), OMATEK (+9.89%), VERITASKAP (+9.87%), and twenty-seven others. A total of thirty (30) stocks depreciated. With a price depreciation of -10.00% each, LEARNAFRICA, LIVINGTRUST, and LIVESTOCK topped the worst performers’ chart, followed by DEAPCAP (-9.97%), MCNICHOLS (-9.93%), IMG (-9.61%), NEIMETH (-8.41%), and CAVERTON (-8.33%). Hence, the market breadth closed on a positive note as there were 33 gainers and 30 losers.
Lastly, the market sectoral performance was positive today as four of the five major market sectors increased. The Insurance sector appreciated by +1.70%, followed by the Consumer goods sector (+0.10%), the Oil & Gas sector (+0.02%), and the Industrial goods sector (+0.001%). The Banking sector declined by -0.78%.
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.
