Lagos, Nigeria – Nigeria’s league of Stocks Worth Over One Trillion Naira has expanded to 26 companies, with their combined market capitalisation climbing to approximately N110.54 trillion (about $70.6 billion) , reflecting growing value concentration on the Nigerian Exchange.
Okay News reports that the surge, based on Monday’s market data, represents a sharp rise from 22 stocks valued at N78.92 trillion in October 2025. The trillion-naira cohort now controls about 85.5 percent of total equity value on the exchange, which currently stands at N122.13 trillion. This shift underscores sustained investor appetite for fundamentally strong, liquid stocks.
Four entities crossed the trillion-naira threshold this year: Fidelity Bank, Wema Bank, Ecobank Transnational Incorporated, and Dangote Sugar Refinery. Banking stocks played a central role in the expansion, driven by investor positioning ahead of sector recapitalisation, earnings resilience, and improved asset quality. Fidelity Bank’s shares rose 12.1 percent year-to-date, while Wema Bank surged 34.6 percent.
MTN Nigeria climbed to about N16.4 trillion after a 52.6 percent year-to-date gain, overtaking former leaders BUA Foods and Dangote Cement to become the most capitalised stock on the exchange. The telecom operator’s strong cash flows and digital expansion have attracted sustained investor interest.
The growing dominance of large-cap stocks carries implications for the broader market. Telecoms, banking, and cement stocks now drive index performance, foreign participation, and trading turnover. Recent reforms by the National Pension Commission, raising allowable investment limits for pension funds in equities, could unlock nearly N1 trillion in additional capital, with large-cap stocks expected to benefit most.
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