NGX CROSSES 250,000 POINTS AND ₦160 TRILLION MARKET CAP YTD RETURN SURPASSES 60%

Dangote Cement leads ₦3.16 trillion single-session gain; ₦84 trillion of market value remains illiquid

Nigeria's stock market crossed two historic thresholds simultaneously on Monday, with the All-Share Index breaching 250,000 points and market capitalisation surpassing ₦160 trillion in a single session that delivered ₦3.16 trillion in investor gains.

The NGX All-Share Index climbed 2.33% to close at 250,481 points on May 11, 2026. Market capitalisation expanded from ₦157.09 trillion to ₦160.25 trillion, the first time the exchange has crossed the ₦160 trillion mark. The milestone represents one of the fastest wealth creation cycles seen on the Nigerian bourse in recent years.

Dangote Cement led the session, rising 8.5% as the exchange's heaviest-weighted stock drove a broad rally. MTN Nigeria Communications, NASCON Allied Industries, Nigerian Aviation Handling Company, and BUA Cement also contributed significantly to the advance. Market breadth closed at 58 gainers to 21 decliners, strongly positive.

The NGX's year-to-date return has now surpassed 60%, cementing its position among the world's top-performing exchanges in 2026. Trading volumes remain elevated and investor participation — both domestic and foreign, is steady.

However, analysts have flagged a structural concern: approximately ₦84 trillion of the exchange's ₦160 trillion market capitalisation is illiquid — shares that cannot be freely traded, held by founding shareholders or entities with lock-up restrictions. The freely tradeable float represents roughly half the headline figure, a constraint that limits retail participation despite the headline milestones. Nigeriainfo

Imperial Asset Managers maintained a constructive outlook for the remainder of the quarter, citing Q1 2026 earnings season and dividend-related flows as the key near-term catalysts.