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The Nigerian equity market opened the week on a positive note, as key market performance indicators (the NGX-ASI and Market Capitalization) both appreciated by 0.12%. Despite a negative market breadth, the market upturn was driven by bargain hunting in mid-cap and blue-chip stocks, such as ARADEL, CONOIL, STANBIC and others, as investors continue to bid for stocks with good fundamentals ahead of the release of their audited earnings position to the investing public. Specifically, the market index (All-Share Index) added 228.82 basis points in today’s trading session, reflecting a 0.12% increase to close at 197,196.97. Likewise, Market Capitalization gained ₦146.87billion, representing a growth of 0.12%, settling at ₦126.58 trillion.
Additionally, the Total Volume of trades increased by +30.09% while the Total Value traded rose by +1.92%. Approximately 762.53 million units valued at ₦31,229.62 million were transacted across 86,488 deals. As regards volume, FTGINSURE generated 16.80% to emerge the most traded, followed by ACCESSCORP (6.36%), ZENITHBANK (5.24%), CHAMS (3.96%), and JAIZBANK with 3.60%. On value traded, ARADEL generated 16.29% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, CONOIL, LEGENDINT, and OMATEK led by generating +10.00% each, then trailed by NGXGROUP (+9.97%), OANDO (+9.96%), PREMPAINTS (+9.93%), ETERNA (+9.92%), INTBREW (+8.09%), and eighteen others. A total of forty-three (43) stocks depreciated. With a price depreciation of -10.00%, ALEX topped the worst performers’ chart, followed by SCOA (-9.90%), RTBRISCOE (-9.87%), SUNUASSUR (-9.81%), UNIONDICON (-9.76%), and GUINEAINS (-9.03%). Hence, the market breadth closed on a negative note as there were 26 gainers and 43 losers.
Finally, the market sectoral performance was flat today as only two of the five major market sectors declined. The Oil & Gas sector increased by +2.07%, followed by the Consumer goods sector (+0.58%), while the Insurance sector and the Banking sector declined by -3.05% and -0.99% respectively. The Industrial goods sector remained unchanged (0.00%).
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.
