A new report has reaffirmed Nigeria as one of the leading countries in Africa with a strong and vibrant equity market.
According to the 2026 African Economic Outlook by the African Development Bank (AfDB), Nigeria was listed as consistently dominating the continent in that regard, along with Egypt, Morocco and South Africa.
The report said Africa's equity market landscape has expanded significantly over the past two decades. It said market capitalization is set to grow nearly sixfold to $1.2 trillion in 2024, accounting for about 40 percent of Africa's gross domestic product (GDP).
According to the report, market activity is largely concentrated in a few economies, including Nigeria, Egypt, Morocco and South Africa. Recall that the Nigerian Stock Market has recently emerged as a top frontier market as equities have increased by N56.62 trillion on a yearly basis.
Nigeria's equity market maintained its bullish momentum through April, leading to a substantial increase in market capitalization to N26.78 trillion and year-to-date (YtD) gains to N56.62 trillion, cementing its position as one of the top performing leading markets in 2026.
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