Nigerian equities surged on Tuesday, adding N3.17 trillion in market value as the rally broadened across multiple sectors on the Nigerian Exchange (NGX).
The sharp appreciation marks a significant turnaround for the market, which had previously struggled with headwinds that eroded investor confidence earlier in the year.
The recovery comes after the NGX saw its year-to-date return fall below the 50% threshold for the first time in 2026, wiping out approximately N982.96 billion in market value.
That decline had signaled a notable reversal in sentiment, driven by macroeconomic pressures and foreign exchange volatility.
The current rebound suggests that selling pressure has eased and that buyers are returning to the market, particularly in large-cap names and exchange-traded funds.
Exchange-traded funds have been a standout performer in the recent rally, led by the Stanbic IBTC ETF 30, which delivered a return of 219.64% as of June 2026.