· External reserves rise for two straight months, hit $51.74bn, Up 38.6% Y-o-Y
· Naira closes at N1,379.60/$ at official, N1,430/$ at parallel markets
Nume Ekeghe and Kayode Tokede
The Nigerian stock market gained N9.3 trillion in one week as renewed foreign investor confidence buoyed by S&P Dow Jones Indices’ decision to place Nigeria on its 2027 watchlist for a potential return to Frontier market status triggered increased demand for blue-chip stocks.
The rally came amid sustained regulatory reforms aimed at improving market transparency, integrity and accessibility, prompting foreign and high-net-worth investors to increase their positions in fundamentally strong companies.
