By mid-January 2026, the Nigerian Exchange had grown by 44.3% to a total capital market worth of about ₦217.749 trillion.

The market capitalisation, which includes stocks, bonds, and exchange-traded funds (ETFs), increased by ₦66.851 trillion over the time, from ₦150.898 trillion as of December 31, 2025, to ₦217.749 trillion, according to figures issued by Nigerian Exchange Limited after the close of business on Friday, January 16.

The stock and exchange-traded fund sectors, which have seen significant price increases in a variety of products since January, are primarily responsible for the increase.

The market capitalisation of the equities segment increased from ₦99.376 trillion to ₦166.13 trillion, according to a comparative analysis by Nairametrics.

This shows an increase of ₦66.75 trillion, which is equivalent to a 67.2% expansion and highlights stocks as the main engine of market growth.

The market capitalisation of the fixed income (bonds) segment increased slightly, from ₦51.476 trillion to ₦51.55 trillion.

The increase of ₦80 billion, or 0.15%, indicates that the debt market is relatively stable and has muted activity.

As capitalisation increased from ₦45.55 billion to ₦69.65 billion, the ETFs segment, on the other hand, demonstrated remarkable momentum.

The growth of ₦24.10 billion, or 52.9%, highlights the increased interest of investors in exchange-traded products.

The Nigerian Exchange (NGX) operates a multi-layered market structure designed to accommodate a range of financial instruments and investment requirements inside Nigeria's capital market.

In order to facilitate capital development and wealth creation, shares of listed companies are traded on the stock market, which is its central component.

The three main sectors that support this are derivatives, exchange-traded funds, and debt (bonds), each of which is subject to particular regulations and listing requirements.