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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 1.30%. The bullish performance reflected strong investors’ confidence as they maintained positive trading momentum, displayed in their buying interest across all major market sectors. Medium and large-cap stocks such as WAPCO, OANDO, BUACEMENT, DANGCEM, WEMABANK, among others, recorded significant price appreciation at the close of trading today. Therefore, the market index (All-Share Index) added 2,886.65 basis points in today’s trading session, reflecting a 1.30% increase to close at 225,724.33. Likewise, Market Capitalization gained ₦1,858.62 billion, representing a growth of 1.30%, settling at ₦145.34 trillion. On a week-onweek basis, the overall market posted a bullish performance. NGX-ASI gained +3.94%, while investors’ wealth also increased by approximately ₦5.51 trillion.
However, the Total Volume of trades declined by -6.04% while the Total Value traded, on the other hand, increased by +16.76%. Approximately 627.62 million units valued at ₦44,512.90 million were transacted across 55,232 deals. As regards volume, ACCESSCORP generated 12.09% to emerge the most traded, followed by UBA (6.89%), WEMABANK (6.63%), ZENITHBANK (6.14%), and UNIVINSURE with 4.71%. On value traded, MTNN generated 18.49% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, ACADEMY and UPDC led by generating +10.00% each, then trailed by HMCALL (+9.97%), ZICHIS (+9.94%), WEMABANK (+9.84%), ETI (+8.79%), LIVINGTRUST (+8.63%), and thirty-six others. A total of twenty-five (25) stocks depreciated. With a price depreciation of -9.92%, MEYER topped the worst performers’ chart, followed by TRANSEXPR (-9.30%), CILEASING (-8.53%), OMATEK (-7.34%), ETRANZACT (-5.28%), and FIDSON (-4.90%). Hence, the market breadth closed on a positive note, as there were 43 gainers and 25 losers.
Finally, the market sectoral performance was positive today as all five major market sectors increased. The Industrial goods sector appreciated by +4.36%, followed by the Banking sector (+1.86%), the Oil & Gas sector (+0.24%), the Consumer goods sector (0.12%), and the Insurance sector (+0.06%).
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.
