Lagos, July 18, 2025 — Nigeria’s stock market witnessed a significant upswing on Thursday as the All-Share Index (ASI) soared past the historic 130,000 mark, fueled by impressive gains in three major cement firms and financial services holding company, FIRSTHOLDCO.
The bullish momentum was primarily driven by renewed investor confidence in the industrial and financial sectors, with market heavyweights Dangote Cement, BUA Cement, and Lafarge Africa posting strong price appreciations. These gains added substantial points to the ASI, propelling it to an all-time high amid sustained buying interest.
FIRSTHOLDCO also played a key role in the market rally, with investors reacting positively to its latest earnings projection and strategic expansion moves within Nigeria’s financial landscape. The company’s strong fundamentals and forward-looking investment posture continue to attract attention from institutional investors.
The Nigerian Exchange (NGX) reported that the ASI closed at 130,195.23 points — marking a record-breaking milestone that underscores the bourse’s robust recovery and investor appetite for blue-chip stocks. Market capitalization similarly climbed, reflecting over ₦71 trillion in value.
Analysts attribute the surge to a combination of stable macroeconomic indicators, ongoing reforms by the federal government, and a favorable earnings season. “This rally reflects a wave of optimism as investors reposition for long-term gains,” said Bola Onabanjo, a market strategist at Lagos-based consulting firm Tradeworks.
The positive sentiment is expected to linger as the half-year corporate earnings season unfolds, with more top-tier companies set to release their financial results. Market watchers advise investors to remain cautious but confident, citing policy stability and improved investor engagement as catalysts for further growth.