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The Nigerian equity market opened the week in the green, as key market performance indicators (the NGX-ASI and Market Capitalization) both appreciated by 1.55%. The market’s positive start to the week can be attributed to bargain hunting in some blue-chip stocks with good fundamentals. Notable gainers included BUACEMENT, ZENITHBANK, MTNN, WAPCO, DANGCEM, and others, across major market sectors, as inflation moderated further to 15.06%. The Industrial goods sector and the Banking sector recorded the highest gains as they increased by 4.52% and 2.20% respectively. Specifically, the market index (All-Share Index) added 3,067.59 basis points in today’s trading session, reflecting a 1.55% increase to close at 201,474.89. Likewise, Market Capitalization gained ₦1,969.14 billion, representing a growth of 1.55%, settling at ₦129.33 trillion.
Furthermore, the Total Volume of trades and the Total Value traded increased by +60.43% and 40.48% respectively. Approximately 948.21 million units valued at ₦49,173.49 million were transacted across 72,735 deals. As regards volume, SOVRENINS generated 7.67% to emerge the most traded, followed by ACCESSCORP (7.39%), FIRSTHOLDCO (7.09%), ZENITHBANK (6.34%), and NB with 5.82%. On value traded, ZENITHBANK generated 12.13% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, BUACEMENT led by generating +10.00%, then trailed by PREMPAINTS (+9.79%), JOHNHOLT (+9.52%), GUINEAINS (+9.38%), FTGINSURE (+9.32%), UPL (+9.09%), and thirty-two others. A total of twenty-nine (29) stocks depreciated. With a price depreciation of -10.00%, VFDGROUP topped the worst performers’ chart, followed by ROYALEX (-9.63%), OMATEK (-9.62%), SOVRENINS (-9.00%), REGALINS (-8.94%), and NSLTECH (-7.14%). Hence, the market breadth closed on a positive note as there were 38 gainers and 29 losers.
Finally, the market sectoral performance was positive today as three of the five major market sectors appreciated. The Industrial goods sector increased by +4.52%, followed by the Banking sector (+2.20%), and the Consumer goods sector (+0.03%). The Insurance sector and the Oil & Gas sector declined by -0.43% and -0.08% respectively.
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.
