Nigerian Stock Market Breaches 250,000 Mark, Investors Gain N3 Trillion
By Aboki Forex —
The Nigerian equity market surged past the 250,000-point threshold on Monday, May 11, as investors raked in over N3 trillion in paper gains. The All-Share Index (ASI) climbed 2.33% to close at 250,485.54 points, pushing the year-to-date return from 57.30% to 60.97%.
Market capitalisation rose from N157.09 trillion to N160.26 trillion, while total market capitalisation stood at N215.89 trillion. The rally was driven by strong demand for RT Briscoe, FTN Cocoa Processors, and Livestock Feeds, alongside sustained activity in banking and telecom stocks.
Trading activity picked up sharply. Total volume traded jumped 30.82% to 1.51 billion shares, while value transacted increased 17.23% to N70.10 billion across 95,093 deals. Investor sentiment improved, with 56 stocks gaining and 21 declining.
Top stocks by value traded were MTN Nigeria, First HoldCo, Dangote Cement, Zenith Bank, and GTCO. Year-to-date equity turnover hit N3.37 trillion, with average daily value at N38.74 billion.
Among the biggest gainers: Livestock Feeds rose 10% to N8.80, IntEnEgIns added 10% to N2.86, RT Briscoe gained 10% to N16.50, FTN Cocoa climbed 10% to N9.13, and UHOMREIT appreciated 10% to N77.00. On the losing side, Prestige Assurance fell 10% to N1.44, UPL dropped 9.09% to N4.00, Tantalizers shed 7.69% to N4.20, NPF Microfinance Bank lost 6.25% to N6.00, and Mutual Benefits Assurance slipped 5.72% to N4.12.
In terms of volume, Veritas Kapital traded 194.55 million shares worth N299.07 million. Access Holdings exchanged 172.08 million shares valued at N4.18 billion. First HoldCo recorded 131.97 million shares worth N9.80 billion. FCMB traded 123.89 million shares worth N1.42 billion. Champion Breweries posted 82.99 million shares valued at N1.25 billion.
Dangote Refinery IPO Plans
Separately, the Dangote Group has announced plans to sell a 10% stake in its $20 billion refinery through a Pan-African Initial Public Offering expected in 2026. The listing aims to broaden investor participation across Africa and strengthen the continent’s capital markets. Dangote noted the offering would support long-term funding for its expanding industrial footprint.