Nigerian equities suffered a sharp decline on Tuesday, with the market shedding N3.64 trillion in value as investors accelerated capital flight ahead of the country's upcoming general election.
The rout was broad-based but led by heavyweights in the industrial and energy sectors, with BUA Cement, Dangote Cement, and Geregu Power among the biggest losers by market capitalization impact.
The session's volatility underscores the persistent risk-off sentiment gripping Lagos.
Traders are increasingly prioritizing liquidity and capital preservation over yield, a trend that has defined the market's trajectory since mid-June.
The selling pressure reflects deepening concerns about political uncertainty and its potential impact on corporate governance and macroeconomic stability in the second half of 2026.
This latest drop extends a severe correction that has seen Nigeria's equity markets erase N9.18 trillion in value over a 19-day period.