NGX Nets ₦4.63tr in H1 on Digital Push

The Nigerian Exchange Limited (NGX) has unlocked over ₦4.63 trillion in fresh capital within the first half of 2025, reinforcing its strategic role in driving infrastructure financing, corporate expansion, and digital-led market transformation.

This surge in capital mobilisation reflects the growing investor confidence and regulatory support that are reshaping Nigeria’s capital markets into more inclusive and globally competitive platforms. The capital raised comprises a mix of sovereign and corporate instruments and was deployed across critical sectors including banking, infrastructure, energy, and telecommunications.

A major driver behind this strong market performance is NGX Invest, a groundbreaking digital offering launched in 2024 to simplify public participation in capital raising activities. The platform has since become a cornerstone of NGX’s primary market engagement strategy, enabling broader retail and institutional participation and easing access to public offerings.

According to the NGX’s mid-year report, total market capitalisation rose by 16%, from ₦112.6 trillion in January to ₦126.73 trillion in June 2025. The equities market was a key growth area, surging from ₦62.76 trillion to ₦75.95 trillion during the six-month period. Meanwhile, the fixed-income market remained steady at ₦50.56 trillion, while Exchange Traded Funds (ETFs) gained traction among retail investors, closing at ₦25.79 billion.


NGX Group Managing Director and CEO, Temi Popoola, attributed the exchange’s impressive first-half results to enhanced collaboration with the Securities and Exchange Commission (SEC) and the rollout of transparent, investor-focused reforms. These include stronger market protections, diversified product offerings, and technology-driven transparency frameworks.

“We are building a globally competitive market that remains inclusive, resilient, and reflective of Nigeria’s growth aspirations,” Popoola stated.

The impact of these reforms was evident across key sectoral indices. The NGX Consumer Goods Index soared by 51.21%, while the NGX Pension Index and NGX Banking Index gained 19.32% and 18.06%, respectively — signalling renewed investor confidence in Nigeria’s macroeconomic fundamentals.

Vice Chairman of Equity Capital Solution Limited, David Adonri, noted that a significant 13.6% of the 16.6% growth in H1 occurred in Q2 alone, driven by stabilised interest rates and improved foreign exchange flows. These conditions, he said, reinvigorated interest among foreign portfolio investors previously deterred by FX volatility.


In a bold step to advance regional market integration, NGX recently invested in the Ethiopian Securities Exchange (ESX) — a strategic move aimed at extending NGX’s influence in African capital markets and attracting cross-border investment.

Furthermore, the group is in active discussions with the Shanghai and Hong Kong Stock Exchanges to pursue dual listings and joint liquidity frameworks. These engagements could significantly enhance foreign capital inflows and elevate NGX’s position on the global investment stage.


The success of NGX Invest and the digitalisation of public offerings underscore a broader trend of democratising access to investment opportunities, particularly among Nigeria’s growing youth population and retail investor base.

The platform has notably played a key role in the banking sector’s recapitalisation drive, helping mobilise over ₦2 trillion in the first half of 2025 alone. Analysts say this digital-led inclusion is setting the stage for broader economic participation and improved wealth distribution through capital markets.


Looking ahead to H2 2025, analysts forecast continued bullish sentiment, backed by stable fiscal and monetary policies, improved investor education, and NGX’s expanding digital infrastructure.

As Nigeria pushes toward sustainable economic recovery and inclusive growth, the NGX is fast positioning itself as a catalyst for capital formation, innovation, and global competitiveness.