The Nigerian Exchange ended mid-January 2026 with a total capital market valuation of over ₦217.749 trillion, representing a 44.3 per cent increase.

According to data released by Nigerian Exchange Limited at the close of trading on Friday, January 16, the market capitalization, covering equities, bonds, and ETFs, rose from ₦150.898 trillion as of December 31, 2025, to ₦217.749 trillion, marking a gain of ₦66.851 trillion over they period.

The surge is largely attributed to the equities and Exchange Traded Funds segments, which have recorded strong price appreciation across multiple sector securities since January.

A comparative analysis by Nairametrics indicates that the equities segment experienced significant growth, with market capitalisation increasing from ₦99.376 trillion to ₦166.13 trillion.

This reflects a ₦66.75 trillion increase, representing a 67.2 per cent expansion and underscoring equities as the primary driver of the overall market growth.

The fixed income (bonds) segment recorded a modest increase, with market capitalisation inching up from ₦51.476 trillion to ₦51.55 trillion.

The ₦80 billion gain represents a 0.15% rise, pointing to relative stability and muted activity in the debt market.

In contrast, the ETFs segment showed strong momentum, as capitalisation climbed from ₦45.55 billion to ₦69.65 billion.

The ₦24.10 billion increase translates to a 52.9 per cent surge, underscoring growing investor interest in exchange-traded products.

The Nigerian Exchange (NGX) runs a multi-layered market structure tailored to meet diverse investment needs and financial instruments within Nigeria’s capital market.

At its core is the equities market, where shares of listed companies are traded to support capital formation and wealth creation.

Complementing this are three key segments—debt (bonds), exchange-traded funds, and derivatives, each operating under specific rules and listing requirements.