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The Nigerian equity market closed trading activities for today on a negative note, as key performance indicators showed mixed outcomes. The NGX-ASI declined by – 1.02%, while the Market Capitalization decreased by -1.00%. The mixed performances of these indicators can be attributed to the additional listing of 882,064,158 Ordinary Shares of 50 Kobo Each Arising from Eterna Plc’s Rights Issue of 978,108,485 Ordinary Shares of 50 Kobo Each at N22.00 Per Share. Consequently, the marketn index (All-Share Index) fell by -2,573.05 basis points in today’s trading session, indicating a -1.02% decline to close at 249,062.37, while Market Capitalization fell by ₦1,619.14 billion, representing a decline of -1.00%, settling at ₦159.66 trillion. Reversing the gains from the short-lived rebound recorded in the previous session, the market declined amid profit-taking activities in mid-cap and large cap stocks, with the Industrial goods sector recording the largest losses.
Also, the Total Volume of trades declined by -14.74% while the Total Value traded, on the other hand, increased by +1.76%. Approximately 600.22 million units valued at ₦32,715.56 million were transacted across 58,958 deals. As regards volume, ACCESSCORP generated 9.35% to emerge the most traded, followed by JAPAULGOLD (8.33%), ZENITHBANK (6.12%), STERLINGNG (4.33%), and FIDELITYBK with 3.63%. On value traded, ZENITHBANK generated 14.75% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, both ZICHIS and ABCTRANS led by generating +9.99% each, then trailed by JAPAULGOLD (+9.95%), LIVINGTRUST (+9.92%), FTNCOCOA (+9.91%), MCNICHOLS (+9.79%), LEARNAFRCA (+9.66%), and thirty-four others. A total of twenty-five (25) stocks depreciated. With a price depreciation of – 10.00%, BUACEMENT topped the worst performers’ chart, followed by CAP (-9.99%), ETRANZACT (-7.03%), INTBREW (-5.38%), DEAPCAP (-4.92%), and AUSTINLAZ (-4.76%). Hence, the market breadth closed on a positive note, as there were 41 gainers and 25 losers.
Finally, the market sectoral performance was negative today as four of the five major market sectors declined. The Industrial goods sector declined by -3.84%, followed by the Consumer goods sector (-0.45%), the Banking sector (-0.31%), and the Oil & Gas sector (-0.10%). Only the Insurance sector appreciated by +0.80%.
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.
