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    Home » Nigerian market gains as govt targets 7% GDP growth

    Nigerian market gains as govt targets 7% GDP growth

    April 27, 2025
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    Lagos — Nigeria’s equities market continues to maintain its positive trajectory, with the NGX All Share Index closing at 106,074 points on Thursday.

    The rally was supported by broad-based sector gains, notably in Technology Services (+5.88%), Consumer Non-Durables (+3.06%), and Non-Energy Minerals (+0.96%). Conversely, Commercial Services (-3.54%), Transportation (-0.88%), and Producer Manufacturing (-0.58%) recorded losses. Among large-cap stocks, MTN Nigeria Communications advanced 2.51%, Zenith Bank rose 0.89%, and Access Holdings gained 0.84%, while Dangote Cement, BUA Foods, and Aradel closed flat.

    The equity market’s performance reflects improving investor sentiment, supported by positive macroeconomic projections.

    The World Bank forecasts GDP growth of 3.4% in 2024 and 3.6% in 2025, driven by robust activity in the services sector, particularly telecommunications and financial services. Inflation is expected to ease to 22.1% in 2025 and further to 15.9% by 2027.

    At the same time, the federal government has articulated an ambitious target of 7% annual GDP growth, reflecting its commitment to structural reform, investment promotion, and fiscal discipline.

    While near-term challenges persist, ongoing reforms present an opportunity to reposition the economy for long-term growth, leading to higher valuations on the domestic equity market.

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