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The Nigerian equity market opened the new trading week on a positive note, as key performance indicators showed mixed outcomes. The NGX-ASI increased by +0.58%, while the Market Capitalization recorded a gain of +0.72%. The early week uptick reflects positive trading mood as market participants displayed fresh buying interest which led to significant price appreciation in some medium and large cap stocks such as WAPCO, FIRSTHOLDCO, NB, ARADEL, and others, across all major market sectors. Consequently, the market index (All-Share Index) added 946.61 basis points in today’s trading session, reflecting a 0.58% increase to close at 163,244.69 while Market Capitalization also gained ₦744.99 billion, representing a growth of 0.72%, settling at ₦104.52 trillion.
Likewise, the Total Volume of trades increased by +84.17% while the Total Value traded gained +3.84%. Approximately 1,149.36 million units valued at ₦19,233.62 million were transacted across 59,359 deals. As regards volume, SOVRENINS generated 26.82% to emerge the most traded, followed by FIDELITYBK (13.82%), LINKASSURE (10.36%), MBENEFIT (2.75%), and LASACO with 2.71%. On value traded, FIDELITYBK generated 16.37% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, ETRANZACT, REDSTAREX, UPDC, and three others led by generating +10.00% each, then trailed by JAIZBANK (+9.96%), VERITASKAP (+9.94%), NCR (+9.94%), IMG (+9.94%), and thirty-nine others. A total of twenty (20) stocks depreciated. With a price depreciation of -8.51%, CHAMPION topped the worst performers’ chart, followed by EUNISELL (-8.01%), IKEJAHOTEL (-8.00%), GUINEAINS (-7.30%), OMATEK (-3.13%), and LASACO (-2.99%). Hence, the market breadth closed on a positive note as there were 49 gainers and 20 losers.
Lastly, the market sectoral performance was positive today as all five major market sectors appreciated. The Oil & Gas sector led by an increase of +1.49%, followed by the Insurance sector (+0.88%), the Banking sector (+0.86%), the Industrial goods sector (+0.81%), and the Consumer goods sector (+0.57%).
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.
