Nigeria’s stock market maintained its positive momentum on Thursday, with investors gaining ₦1.18 trillion as buying interest in large- and mid-cap stocks pushed the All-Share Index higher by 0.62 per cent. Market capitalisation rose to approximately ₦159.9 trillion.
The rally extended a strong recent run, supported in part by sustained investor attention around the Dangote Petroleum Refinery initial public offering. Several stocks recorded double-digit gains, including Beta Glass, BUA Cement, UPDC REIT and Consolidated Hallmark Holdings.
In the foreign exchange market, the naira weakened for a third consecutive session. It closed at about ₦1,331.28 per dollar at the official window, compared with ₦1,329.86 the previous day. Parallel market rates hovered around ₦1,390–₦1,392. Despite the currency pressure, Nigeria’s foreign reserves remained robust at roughly $54.67 billion.
Elsewhere, rising petrol prices continued to draw attention, with reports of the product selling for as high as ₦1,430–₦1,500 per litre in some states. The Nigeria Labour Congress renewed calls for government measures to ease the burden on workers and businesses. The Federal Government, meanwhile, advanced plans to improve working capital access for small and medium enterprises through digital invoicing.
Overall, the day reflected resilience in the equities market alongside ongoing currency and cost-of-living pressures.