The Nigerian stock market is currently seeing a massive surge in investment, with the All-Share Index (ASI) crossing the historic 180,000-point mark in mid-February 2026. This “liquidity tsunami” was triggered by the National Pension Commission (PenCom) deciding to raise the amount of money pension funds can invest in stocks.
By increasing these limits for example, allowing the most aggressive funds to put up to 35% of their assets into shares, the regulator has unlocked billions of naira for the local market. Investors are already seeing the benefits, as the market added nearly 970 billion naira in value in just one day last week.
Pension fund managers are focusing their buying on “high-quality” companies that have a history of paying steady dividends and following good business rules. Banks and energy companies are the biggest winners so far.
For instance, GTCO recently hit a 52-week high of 107 naira per share, while Seplat Energy has seen its stock price climb toward 8,400 naira. Other popular stocks being bought by these large funds include MTN Nigeria, Dangote Cement, and Nestle, as institutional investors look for long-term value to protect against inflation.
Analysts say this is a major turning point for the market because it shifts the focus toward long-term growth. Because pension funds manage over 27 trillion naira, even small changes in their investment rules can move the entire market.
This move has encouraged other investors to jump back in, pushing year-to-date returns to over 17%. While some experts suggest there might be short-term price adjustments as people take their profits, the overall outlook remains positive as companies prepare to release their full-year financial results for 2025.
This boost in stock market activity is also helping the wider economy by making it easier for companies to raise the capital they need to grow. With the exchange rate stabilizing and the banking sector finishing its recapitalization process, the Lagos bourse is now one of the best-performing markets in the world for 2026.
For regular investors, this means the market is becoming deeper and more stable, providing better opportunities for building wealth through carefully selected stocks.
 crossing the historic 180,000-point mark in mid-February 2026. This "liquidity tsunami" was triggered by the National Pension Commission (PenCom) deciding to raise the amount of money pension funds can invest in stocks.){kind=link}