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The Nigerian equity market closed the week in negative territory, as key market performance indicators (the NGX-ASI and Market Capitalization) both recorded a marginal loss of -0.02%. The market retreat was triggered primarily by profit-taking activities in some recently appreciated medium-cap and blue-chip stocks including MTNN, ZENITHBANK, FIRSTHOLDCO, among others, across key market sectors. Specifically, the market index (All-Share Index) fell by -44.83 basis points in today’s trading session, indicating a -0.02% decline to close at 200,913.06, while Market Capitalization fell by ₦28.78 billion, representing a decline of -0.02%, settling at ₦128.97 trillion. The overall market posted a bearish performance on a week-on-week basis. NGX-ASI lost -0.12%, while investors’ wealth also declined by approximately ₦156.52 billion.
Additionally, the Total Volume of trades and the Total Value traded declined by -12.24% and -26.17% respectively. Approximately 595.15 million units valued at ₦24,465.91 million were transacted across 43,440 deals. As regards volume, WEMABANK generated 22.29% to emerge the most traded, followed by LEGENDINT (7.05%), ZICHIS (5.97%), ACCESSCORP (4.99%), and JAPAULGOLD with 3.65%. On value traded, WEMABANK generated 14.21% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, PREMPAINTS and ZICHIS led by generating +9.97% each, then trailed by MCNICHOLS (+9.93%), JOHNHOLT (+9.86%), TRANSEXPR (+9.75%), SKYAVN (+9.70%), EUNISELL (+9.69%), and twenty-five others. A total of thirty-six (36) stocks depreciated. With a price depreciation of -10.00% each, ABBEYBDS, CADBURY, ETERNA, and ETRANZACT topped the worst performers’ chart, followed by DAARCOMM (-9.50%), LEARNAFRICA (-9.09%), NSLTECH (-7.14%), RTBRISCOE (-6.87%), and LEGENDINT (-6.02%). Hence, the market breadth closed on a negative note as there were 32 gainers and 36 losers.
Finally, the market sectoral performance was positive today as three of the five major market sectors appreciated. The Oil & Gas sector increased by +1.78%, followed by the Insurance sector (+0.31%), and the Industrial goods sector (+0.003%). The Consumer goods sector and the Banking sector declined by -0.89% and -0.23% 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.
