By Boluwatife Oshadiya | June 3, 2026
Key Points
- Nigeria’s Assets Under Management (AUM) rose from ₦3.2 trillion to ₦10 trillion within two years
- Market capitalisation recorded a historic ₦17.6 trillion increase in February 2026 alone
- SEC says the transition to the T+1 settlement cycle will improve market liquidity and attract more foreign investors
Main Story
Nigeria’s capital market has recorded significant growth over the past two years, with Assets Under Management (AUM) increasing from ₦3.2 trillion to ₦10 trillion, according to the Securities and Exchange Commission (SEC).
Speaking in Lagos on Monday during an event marking Nigeria’s transition to the T+1 settlement cycle, SEC Director-General, Dr. Emomotimi Agama, said the expansion reflects rising investor confidence and the impact of ongoing reforms across the capital market ecosystem.
Agama disclosed that the market achieved several record-breaking milestones in recent months, including a historic ₦17.6 trillion increase in market capitalisation in February 2026, the largest monthly gain ever recorded in Nigeria’s capital market.
He further revealed that domestic and foreign portfolio investments on the Nigerian Exchange (NGX) climbed to ₦1.803 trillion in April 2026, representing a 3.35% month-on-month increase and a 274.05% rise compared with ₦482 billion recorded in April 2025.
According to SEC data, total market transactions between January and April 2026 reached ₦5.952 trillion, more than double the ₦2.714 trillion recorded during the corresponding period in 2025.
The SEC chief also noted that the capital market’s contribution to Nigeria’s Gross Domestic Product (GDP) rose to 33% in 2025, while overall market capitalisation has increased by approximately 125% from about ₦55 trillion recorded in April 2024.
Foreign participation in Nigerian equities also improved significantly, rising from 9.9% in 2023 to 22.2% in 2025, reflecting renewed investor interest following foreign exchange reforms and improved market transparency.
A major focus of the event was Nigeria’s adoption of the T+1 settlement cycle, which shortens the time required to complete securities transactions from two business days to one. The move aligns Nigeria with major global financial markets such as the United States, India, and Canada, which have already implemented similar settlement frameworks.
What’s Being Said
“The Nigerian capital market has recorded historic milestones. Within two years, the nation’s Assets Under Management grew from ₦3.2 trillion to ₦10 trillion,” said Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission.
“In February 2026 alone, market capitalisation expanded by ₦17.6 trillion, representing the highest single-month gain in the market’s history,” Agama added.
Market analysts say the migration to T+1 settlement could enhance liquidity, reduce settlement risks and improve Nigeria’s attractiveness to international institutional investors seeking faster transaction processing.
What’s Next
- SEC plans to officially unveil the Nigerian Capital Market Master Plan 2.0 between June and July 2026
- Market operators are expected to complete upgrades to trading, clearing and settlement systems to support the T+1 framework
- Regulators will continue efforts to increase foreign investor participation and deepen market liquidity
Bottom Line
The Bottom Line: Nigeria’s capital market is experiencing one of its strongest growth cycles in recent history, supported by regulatory reforms, improved investor confidence and rising market participation. The successful implementation of the T+1 settlement cycle could further strengthen the market’s competitiveness as Nigeria seeks to attract larger volumes of domestic and foreign capital.
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