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The Nigerian equity market closed trading for the week on a negative note, with key performance indicators “the NGX-ASI and the Market Capitalization” both, recording a decline of -0.38%. The decline, which prevailed in four trading sessions, was largely triggered by sustained profit-taking in some recently appreciated midcap and blue-chip stocks, across key market sectors. Specifically, the market index (All-Share Index) fell by -741.04 basis points in today’s trading session, indicating a -0.38% decline to close at 192,826.77, while Market Capitalization fell by ₦475.62 billion, representing a decline of -0.38%, settling at ₦123.76 trillion. Hence, the overall market posted a bearish performance on a week-on-week basis. NGX-ASI lost -1.11%, while investors’ wealth also decreased by approximately ₦1.4 trillion.
Furthermore, the Total Volume of trades declined by -5.15% while the Total Value traded, on the other hand, increased by +10.37%. Approximately 823.83 million units valued at ₦34,750.17 million were transacted across 63,759 deals. As regards volume, FTGINSURE generated 17.86% to emerge the most traded, followed by ZENITHBANK (9.67%), JAPAULGOLD (6.96%), JAIZBANK (6.03%), and ACCESSCORP with 5.45%. On value traded, ARADEL generated 20.57% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, SOVRENINS led by generating +9.95%, then trailed by RTBRISCOE (+9.93%), NGXGROUP (+9.78%), ELLAHLAKES (+9.70%), OMATEK (+9.70%), GUINEAINS (+9.45%), and thirty-three others. A total of twenty-four (24) stocks depreciated. With a price depreciation of -9.97%, MECURE topped the worst performers’ chart, followed by MEYER (-9.90%), DAARCOMM (-9.83%), CHAMPION (-6.49%), DANGCEM (-6.09%), and ETRANZACT (-4.52%). Hence, the market breadth closed on a positive note as there were 39 gainers and 24 losers.
Finally, the market sectoral performance was positive today as three of the five major market sectors appreciated. The Insurance sector increased by +1.52%, followed by the Banking sector (+0.79%), and the Consumer goods sector (+0.28%). The Industrial goods sector and the Oil & Gas sector declined by -2.44% and -0.26% respectively.
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.
