The Nigerian stock market has added about ₦27 trillion in value this year, buoyed by strong earnings expectations, foreign inflows, and investor confidence in ongoing reforms.

Data from the Nigerian Exchange (NGX) show that the All-Share Index (ASI) has risen 42.81% year-to-date, while market capitalization jumped from ₦62.76 trillion to ₦93.30 trillion, a ₦30.53 trillion gain.

Foreign portfolio investments climbed to ₦1.45 trillion in the first eight months of 2025 more than double last year’s ₦655.47 billion raising foreign participation to 21%.

Analysts attribute the surge to policy reforms, improved market confidence, and expectations of solid corporate results across key sectors. Nigeria’s strong performance has also earned it a spot on FTSE Russell’s Watch List for a possible market upgrade.

Experts, however, urge caution, noting that sustained gains will depend on stable exchange rates and consistent economic policies.