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Nigerian Equities Surge to Strongest Week of 2026

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NGX

Nigerian Equities Surge with N8.14 trillion gain as ASI hits 194,989 points, boosted by oil prices and rising investor confidence

Nigeria’s equities market recorded its strongest week-on-week performance of 2026, driven by robust buying across major sectors and firming global oil prices, according to data from the Nigerian Exchange Limited.

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Investors collectively gained more than N8.137 trillion in market value over the week, reflecting heightened demand for listed equities.

Market capitalisation climbed to N126.164 trillion, up from N117.027 trillion the previous week, marking the highest valuation recorded this year.

The surge was underpinned by selective institutional accumulation and renewed positioning in fundamentally strong stocks.

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The NGX All-Share Index advanced 6.95 percent W/W to close at 194,989.77 points, compared to 182,313.08 points the prior week.

Analysts attributed the sharp rise to strengthening investor confidence amid improving corporate earnings expectations and supportive macroeconomic signals.

Global crude oil prices added momentum to the rally.

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Brent crude traded above $71 per barrel, while West Texas Intermediate hovered near $66 per barrel, influenced by heightened geopolitical tensions in the Middle East.

Analysts noted that stronger oil prices enhance Nigeria’s fiscal stability and bolster foreign investor sentiment toward domestic equities.

Trading activity surged significantly, with total volume and value rising 148.4 percent and 87.1 percent W/W, respectively.

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Sectoral performance was broadly positive, led by the Industrial Goods Index with a 10.1 percent increase, followed by Oil & Gas at 8.7 percent, Consumer Goods at 6.1 percent, Banking at 5.7 percent, and Insurance at 4.7 percent.

Looking ahead, analysts at Cordros Capital expect investor sentiment to be shaped by audited earnings releases and dividend announcements across sectors such as cement, telecommunications, oil and gas, and consumer goods.

Market participants will also monitor the upcoming Monetary Policy Committee meeting of the Central Bank of Nigeria, with expectations of a 50-basis-point policy rate reduction to 26.5 percent.

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InvestData Consulting Limited analysts maintained a constructive near- to medium-term outlook, citing sustained institutional positioning, supportive oil prices, and positive earnings expectations as potential upside catalysts.

They advised caution around short-term volatility due to profit-taking but noted pullbacks could present re-entry opportunities for fundamentally sound stocks.

Also read: UNESCO REF and UAPP Partner to Fund Nigerian Students Abroad

As long as the NGX All-Share Index sustains levels above the 190,000-point threshold, analysts believe the broader bullish trajectory remains intact, positioning Nigeria’s equities market for continued gains in the coming weeks.

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Rest of World to Shut Down as Search for New Home Continues

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Rest of World

Rest of World shutdown plans point to January 2027 as leaders seek a new institutional home for the nonprofit technology newsroom

Rest of World, the international nonprofit digital publication known for reporting on technology’s impact beyond Western markets, is preparing to end operations as an independent organisation in January 2027 while its leadership searches for a new institutional home.

Also read: Flamingos Target Quarter-Finals in Mexico Clash

Deputy Editor Rina Chandran confirmed the development in a LinkedIn post on Monday, October 26, 2026, saying the newsroom would continue publishing until the end of January as efforts to secure a future for the publication continued.

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“Yes, it’s true: Rest of World is shutting down. After six years of award-winning reporting, our leadership is searching for a new home for the publication that was launched to cover innovation outside the West,” Chandran wrote.

She recalled joining the publication as its Southeast Asia editor in Bangkok before moving to San Francisco, where she became a deputy editor covering how technology developed in Silicon Valley affects people in other parts of the world.

Chandran described working with the publication’s reporters, editors, freelancers and columnists as a privilege, expressing appreciation for the people who contributed to its journalism.

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She also reassured contributors that work already commissioned would still be published and that existing journalism would be preserved and remain accessible.

“If you are a freelancer or columnist who has already been commissioned, you’re good! Your work will be preserved and continue to be accessible,” she wrote, thanking readers, donors and supporters.

The announcement follows a report by Semafor on Sunday that Rest of World founder and principal financial backer Sophie Schmidt had held discussions with several large institutions about potentially taking over the newsroom.

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According to Semafor, two people familiar with the plans said a late-January wind-down date had been set to give employees time to receive exit packages and seek new jobs if efforts to find a new institutional home failed.

Schmidt reportedly told donors that the publication would stop operating as a standalone entity at the end of January.

The proposed closure comes amid a reported decline in traffic from web searches and social media referrals over the preceding 18 months.

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The publication had attempted to retain readers by placing greater emphasis on Western audiences and requiring visitors to register before accessing articles.

Founded in 2020, Rest of World sought to broaden technology journalism beyond the traditional focus on Silicon Valley and other Western technology centres.

Its reporting examined how digital products, platforms and infrastructure shape everyday life, work and economies in emerging markets and other underreported regions.

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Schmidt pledged $60m to establish the project as a nonprofit newsroom.

Over the years, its coverage has explored technology-driven changes in labour markets, digital infrastructure, artificial intelligence and the influence of major technology companies.

The publication’s 2025 annual report said it reached more than 753,000 readers monthly across platforms and channels, with reporting spanning nearly 40 countries during the year.

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Those figures illustrate the scale of its international reporting, even as the organisation faces difficulties sustaining its current operating model.

The planned end of independent operations does not necessarily mean the publication’s journalism will disappear.

Its leadership is seeking an institution that could provide a future for the newsroom, while Chandran has said its existing work will remain accessible.

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Also read: Flamingos Target Quarter-Finals in Mexico Clash

Whether a suitable organisation will take over the publication, and what form Rest of World might take under new ownership or institutional support, remains unresolved.

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