Nigerian equities have surpassed South Korea to become the best-performing equity market globally in dollar terms, marking a significant shift in global capital flows.
The achievement follows a sustained rally on the Nigerian Exchange (NGX), which has seen broad-based gains across multiple sectors.
The surge represents a dramatic turnaround for the market, which recently added N3.
The surge represents a dramatic turnaround for the market, which recently added N3.17 trillion in market value in a single session.
This momentum has allowed Nigerian stocks to outpace the strong first-half returns previously led by Asian markets, including South Korea, Taiwan, and Japan, which had significantly outperformed Western markets earlier in 2026.
The performance highlights a broader rotation of capital into emerging markets, as investors seek higher yields and growth opportunities outside traditional developed-market hubs.
The NGX rally has been driven by improving sentiment and sector-wide strength, reversing previous underperformance relative to global peers.