The Nigerian Exchange climbed 16.60 per cent in February 2026 to close at 192,826.8 points, moving closer to the 200,000 milestone.
The All-Share Index surge marks a third straight month of gains since November 2025’s dip.
It stands as the strongest monthly performance since the 35.28 per cent rally of January 2024.
Over the month’s four trading weeks, the market closed the first three in positive territory before a mild 1.11 per cent decline brought the index back.
So far this year, the market is up 23.91 per cent with over 36 billion shares traded.
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The NGX Oil and Gas sector led February’s performance, rising 33.63 per cent to close at 4,060.7 points with market volume exceeding 1.6 billion shares.
Heavyweight stocks driving the rally included Aradel, which gained 38.94 per cent, and Seplat, which rose 35.82 per cent.
Japaul Gold surged 58.20 per cent in the mid-cap space, while Eterna and Oando also contributed to the sector’s overall strong performance.
The NGX Industrial Goods sector followed, climbing 22.20 per cent to break the 7,000-point barrier for the first time.
The surge was led by large-cap cement stocks, including Lafarge, Dangote Cement, and BUA Cement.
The NGX Banking sector was the third-best performer, rising 16.67 per cent with over 7.6 billion shares changing hands.
The All-Share Index is now inching closer to the 200,000 threshold, and further rallies in large-cap stocks could push it higher.
February 2026 was the market’s best-performing month since January 2024, though the market is currently overbought across major timeframes.
