Nigerian Stock Market Reaches 2014 High Amid Economic Recovery

Nigerian stocks achieved their highest level since 2014 following a period of economic recession that impacted company profits and share prices. The All Share Index rose 1.29 percent to 40,362.97 points on Tuesday, January 9, marking its peak since September 29, 2014.

Dangote Flour emerged as the top performer, gaining N1.47 to close at N16.17, while UAC Properties declined 4.72 percent to end at NGN3.03.

Analysts at Meristem Securities noted that investor interest surged across multiple sectors, especially in Dangote Cement and banking stocks, which are heavily weighted in the market.

All sector indices improved except for consumer goods, which dropped 31 basis points, indicating a broader market rebound after a difficult year marked by low oil prices and foreign exchange shortages.