The Nigerian equities market has posted a remarkable rally in 2026. The All-Share Index (ASI) gained 20.36% in April, pushing year-to-date returns to 55.69%, already surpassing the 51% recorded in 2025.
Market capitalization has risen to about N156 trillion, driven by large-cap stocks such as MTN Nigeria, BUA Cement, Dangote Cement, and Aradel, each adding over N5 trillion so far this year.
Investors are advised to consider that returns should exceed inflation to preserve purchasing power, and risk must be assessed, with higher risk demanding higher returns.
Nigeria could record an additional N6.8 trillion in oil revenue in 2026 as rising crude prices driven by the ongoing US-Iran conflict strengthen the country’s fiscal outlook. BMI, a unit of Fitch Solutions, raised Nigeria’s 2026 growth forecast to 4.4%.
Higher global oil prices, alongside ongoing domestic reforms, are expected to support government revenues and improve macroeconomic stability despite lingering inflationary pressures. Brent crude is now projected to average $78 per barrel in 2026.
Nigeria’s real GDP growth forecast for 2026 was increased from 4.3% to 4.4%. Petrol prices in Nigeria have risen by over 50% since the escalation of the Middle East conflict.
Access Holdings Plc has announced a strategic shift in its growth agenda, signalling a transition from expansion-led performance to a sharper focus on efficiency, returns, and sustainable value creation. The Group’s 2025 financial results reflect both momentum and maturity, with gross earnings rising by 13.3 percent to N5.53 trillion and profit before tax growing by 16.2 percent to approximately N1.007 trillion.
The Group’s Chief Executive Officer, Innocent C. Ike, stated that the expansion phase has largely been completed, and the focus is now on converting scale into consistent, high-quality value for shareholders through disciplined capital allocation and improved cost efficiency.
TotalEnergies Marketing Nigeria Plc’s pretax profit rose to N1.9 billion in Q1 2026, up 70.58% year-on-year from N1.1 billion. This occurred despite a decline in revenue to N197.1 billion from N221.6 billion in the corresponding period of the prior year. The sale of white products contributed N129.6 billion, while lubricants and other products accounted for N67.5 billion.
Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a broadly negative performance in April 2026. The Meristem Growth ETF led the losers after plunging 59.29% to N136.40, as eleven of the twelve tracked ETFs closed the month in the red. The Vetiva Griffin 30 ETF was the sole gainer, posting a 3.24% increase to N97.
Total trading volume for ETFs in April reached 26.90 million units, with a total transaction value of N3.71 billion. The Meristem Growth ETF recorded the steepest decline, falling 59.29% to close at N136.40. The SIAML Pension ETF 40 plunged 58.74% to N5,888.48.
