Naira Surge Powers Nigerian Equities to No.1 in Africa

Story: written by springnewsng February 23,2026
Nigeria’s stock market has climbed to the top of Africa’s performance table after a renewed rally in the naira boosted investor confidence and lifted equity prices. The currency’s recent strength has eased foreign exchange pressures, improved liquidity sentiment, and attracted fresh local and offshore inflows.
Trading activity on the Nigerian Exchange accelerated as banking, industrial, and consumer stocks posted broad gains. Analysts say improved FX stability, bargain hunting, and expectations of policy continuity have combined to fuel the rally.
Market watchers also point to supportive signals from the Central Bank of Nigeria, noting that tighter oversight and reforms are helping to calm volatility and rebuild trust. With momentum building, investors are cautiously optimistic that sustained currency stability could keep Nigerian equities ahead of regional peers in the near term.