Nigeria Leads Africa in Stock Market Returns, Up 75.5% in Nine Months, Enters Q4 With Strong Momentum

Nigeria's stock market has been Africa's best-performing equities market in dollar terms in the first nine months of 2026, with a 75.5% year-to-date return. The Nigerian Exchange (NGX) outperformed the Zimbabwe Stock Exchange, which returned 64.75%. Market capitalisation rose by N63.73 trillion to N163.11 trillion. Analysts note that the final quarter will determine whether the market sustains its momentum, with investors eyeing a year-end rally.

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