Nigeria’s stock market recorded a significant upswing today, with market capitalisation increasing by ₦122.45 billion, driven primarily by strong investor interest in insurance sector stocks. The All-Share Index (ASI) rose approximately 0.9% during the trading session, signalling renewed market confidence despite ongoing national security concerns.
The rally comes in the wake of the Nigerian Insurance Industry Reform Act 2025, which introduced stricter capital requirements, mandatory digitisation, and policyholder protection funds. Following the law’s enactment, the NGX Insurance Index surged nearly 8%, outperforming broader market averages. Top performers included International Energy Insurance (up 85%), AXA Mansard (+79%), and Cornerstone Insurance (+78%).
Industry analysts note that Nigeria’s stock market has been on a steady growth trajectory, consistently gaining momentum through August, with the insurance and consumer goods sectors leading. The ongoing reforms have restored investor confidence, encouraging capital inflows and sustained bullish sentiment.
Despite the positive performance, investors remain watchful of external factors like currency volatility and security-related concerns, which could influence future market sentiment. Nonetheless, the current rally underscores the resilience of Nigeria’s capital markets and their capacity to absorb structural reforms.