Where to invest in Nigeria for the second half of 2026
By Aboki Forex —
The first half of 2026 was a mixed bag for investors. Nigerian equities staged a massive rally, the US market saw AI-driven gains, and cryptocurrencies corrected sharply. The NGX All-Share index hit multiple record highs and closed June near the 232,000 mark. Nigerian stocks rose over 60% year-to-date before pulling back to around a 50% gain.
The S&P 500 gained 7.4% to a new high, while the Nasdaq 100 surged 16%. On the flip side, the total crypto market cap fell roughly 30% to about $2 trillion. Bitcoin dropped 31% and Ether fell 47%. Gold started the year strong on momentum from the 2025 boom but hit a macroeconomic wall. It is down nearly 7% year-to-date as of late June. Silver hit an all-time high above $90 per ounce in mid-January but has since fallen to multi-month lows around $61 per ounce, down about 50% from its peak.
Looking ahead to the second half of 2026, Nigeria, the US, and crypto markets face a complex realignment driven by energy shocks and monetary policy shifts.
Nigerian banking stocks: high risk, high reward
The Nigerian banking sector is the cheapest part of the market. That means the highest risk but also the greatest potential reward. Banks have come under pressure, even tier one names like Zenith Bank, UBA, and Access Holdings. Their current low market prices may offer a good entry point. Nigerian banks are highly sought after by retail investors because of strong retail deposit growth and high net interest margins. These margins have remained resilient even in Nigeria's high interest rate environment.
Cement stocks hold pricing power
Dangote Cement and BUA Cement remain top of the game in their sector. They have strong pricing power and can resist the effects of rising costs. Even if their earnings margins stay flat for now, they can successfully push through price increases to protect profits.