The NASD Securities Exchange saw its total market capitalisation soar by 106 per cent to N2.12 trillion in 2025, driven by substantial new listings and increased liquidity on the over-the-counter platform. This marks a significant jump from N1.029 trillion in 2024.

The NASD Pension Index (NPI) also surged 215 per cent, closing the year at 3,002.68 points, up from 954.33 points the previous year.

Key new listings included Infrastructure Credit Guarantee Company Plc (InfraCredit), Paintcom Investment Nigeria Plc, MRS Plc, and Access Bank Plc’s rights issue, contributing about N1.121 trillion to the exchange in 2025. The platform also witnessed strong growth in alternative funding instruments, with commercial paper admissions exceeding N34.32 billion, reflecting increased issuer and investor participation.

The exchange is preparing to issue its N5 billion maiden tokenised commercial paper via its digital securities platform, aimed at broadening access to structured financing.

NASD Managing Director Eguarekhide Longe said the performance reflects the success of the exchange’s market diversification strategy, delivering growth across equities, fixed-income, and digital securities. He noted that NASD remains Nigeria’s leading alternative securities exchange, offering flexible capital-raising and investment opportunities beyond traditional markets.

Longe added:

“We are optimistic about the 2026 macroeconomic outlook and the potential benefits of ongoing reforms, including the new tax law. NASD will continue to expand economic opportunities, support entrepreneurship, and promote inclusive growth through innovation and improved access to capital.”