The Nigerian equities market closed lower on 5 May 2026, shedding 1,411.37 points to settle at 241,750.15, a 0.58% decline from the previous close, as selling pressure hit large-cap stocks including Wema Bank, MTN, and Aradel.
Domestic refineries received only 28.5 million barrels of crude oil in Q1 2026, far below the 61.9 million barrels allocated, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Nigerian equities market closed lower on 5 May 2026, shedding 1,411.37 points to settle at 241,750.15, a 0.58% decline from the previous close, as selling pressure hit large-cap stocks including Wema Bank, MTN, and Aradel.
Specifically, the chronic underdevelopment of the local government system, a tier that should be the nerve centre of citizen reality but has instead been reduced to a ceremonial appendage.
Nigeria’s dollar GDP rose by 22% to $307.5 billion in 2025, driven by stronger economic output and a firmer naira, according to a report by Quartus Economics.
Nigeria’s trade momentum strengthened in Q1 2026, as new data from the Nigeria Customs Service (NCS) showed significant growth in export volumes, revenue collections, and cargo throughput.