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The Nigerian Equity market opened the week in negative territory, as key performance indicators, “the NGX-ASI and the Market Capitalization,” both decreased by -0.21%. The bearish performance highlighted profit-taking activities in some blue-chip and mid-cap stocks, across key market sectors. WAPCO, ZENITHBANK, GTCO were some of the significant decliners as market closed today. Specifically, the market index (All-Share Index) fell by -428.63 basis points in today’s trading session, indicating a -0.21% decline to close at 200,484.43, while Market Capitalization fell by ₦270.84 billion, representing a decline of -0.21%, settling at ₦128.70 trillion.
Furthermore, the Total Volume of trades declined by -0.50% while the Total Value traded, on the other hand, increased by +7.10%. Approximately 592.20 million units valued at ₦26,203.13 million were transacted across 62,308 deals. As regards volume, ACCESSCORP generated 14.70% to emerge the most traded, followed by FIRSTHOLDCO (14.34%), NSLTECH (5.28%), FIDELITYBK (4.53%), and ZENITHBANK with 4.43%. On value traded, FIRSTHOLDCO generated 16.65% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, AUSTINLAZ led by generating +9.98% , then trailed by ZICHIS (+9.93%), TRANSEXPR (+9.65%), TIP (+9.60%), LEARNAFRICA (+9.41%), DAARCOMM (+9.39%), and twenty others. A total of thirty-four (34) stocks depreciated. With a price depreciation of -10.00%, NSLTECH topped the worst performers’ chart, followed by MAYBAKER (-9.42%), LEGENDINT (-8.67%), CUTIX (-8.29%), FTGINSURE (-7.97%), and CONHALLPLC (-6.13%). Hence, the market breadth closed on a negative note as there were 26 gainers and 34 losers.
Finally, the market sectoral performance was negative today as four of the five major market sectors declined. The Insurance sector declined by -1.38%, followed by the Banking sector (-0.81%), the Industrial goods sector (-0.45%), and the Consumer goods sector (-0.01%). Only the Oil & Gas sector increased by +0.10%.
Following the recently rebased data released by NBS, the country’s GDP stood at 4.07% in Q4’2025, marking a 9bps growth from the 3.98% recorded in Q3 2025. Furthermore, on a year-on-year basis, the growth rate in the fourth quarter of the year reflects a
31bps improvement compared to the 3.76% posted in Q4, 2024. Overall, the annual GDP growth rate in 2025 stood at 3.87%, from 3.38% recorded in 2024.
Sectoral GDP Dynamics: Oil vs. Non-Oil
The non-oil sector contributed 97.13% to total GDP in Q4 2025, an increase from 96.56% in Q3 2025, but lower than 97.20% recorded in Q4 2024. Conversely, the Oil sector’s contribution dropped by 0.57% to 2.87% in Q4 2025, down from 3.44% in Q3 2025, attributed to decline in crude oil production compared to the previous quarter.
However, in terms of growth, the Oil sector advanced by 0.85% points, recording a growth rate of 6.79% in
Q4 2025, compared to 5.84% in Q3 2025. Likewise, the non-oil sector recorded real GDP growth of 3.99%,
up by 0.08% points compared to 3.91% in Q3 2025. The country’s crude oil production averaged 1.58mbpd in Q4, 2025, which was higher than the daily average crude oil production of 1.54mbpd recorded in the same quarter of 2024, but 0.06mbpd lower than the Q3’2025 production volume of 1.64mbpd.
Agricultural Sector Shows Resilience
Agricultural sector posted a real growth rate of 4.00% in Q4 2025, an improvement of 22bps from 3.79%
growth recorded in Q3 2025. Also, the sector’s performance expanded by 1.46% points when compared to Q4 2024, when it grew by 2.54%. The growth in the sector despite insecurity challenges can be attributed increased importation of agricultural
products, as well as improved mechanization, Export restriction for some raw products further boosted the sector’s growth. Nevertheless, the sector contribution to the GDP dropped, standing at 28.65% in Q4 2025, which was 255bps lower than 31.21% recorded in Q3 2025.
