The Nigerian stock market achieved a remarkable milestone on October 27, 2026, as the market capitalisation surged to N164.91 trillion, marking an increase of N1.75 trillion in just one trading session. This significant rise reflects a growing confidence among investors and was primarily driven by substantial gains in key stocks, particularly Dangote Cement.

The All-Share Index (ASI) climbed by 1.07%, reaching a new peak of 253,990.06 points, up from 251,290.54 points. The impressive performance of Dangote Cement, which saw its shares rise by 9.80% to close at N1,341.90 per share, played a pivotal role in this upward trend.

Trading activity also witnessed an extraordinary increase, with 5.23 billion shares exchanged during the session, a staggering rise of 1,487.21% compared to the previous day’s trading volume of 329.51 million shares. Notably, First HoldCo was the dominant player in this trading frenzy, accounting for 4.87 billion shares traded across 1,785 deals.

Several other stocks also recorded significant gains during the session. UPDC REIT rose by 10.00% to close at N19.25, while Honeywell Flour advanced by 9.67% to N21.55. Other notable gainers included Africa Prudential (AVACAP), which gained 9.42% to reach N7.55, and NAHCO, which climbed 8.00% to close at N151.20.

Conversely, some stocks experienced declines. Presco fell by 10.00% to N1,840.80, while Tripple Gee and Thomas Wyatt saw drops of 9.93% and 9.85%, respectively. Transcorp also lost 9.70%, closing at N32.60.

The recent surge in the stock market not only reflects the resilience of the Nigerian economy but also highlights the wealth accumulation among the country’s billionaires. Recent reports indicated that prominent businessmen such as Aliko Dangote, Abdul Samad Rabiu, and Femi Otedola collectively added $1.7 billion to their fortunes within a few days, as share prices on the Nigerian Exchange Limited (NGX) rebounded. As of last Friday, their combined wealth reached $73.1 billion, up from $71.4 billion earlier in the week.

The continued rally in the Nigerian stock market signals a positive outlook for investors and underscores the potential for further growth in the coming months.