By Ebi Kesiena
The Nigerian stock market endured a steep downturn over the past week, as investor confidence weakened sharply following remarks by U.S. President Donald Trump threatening possible military action against Nigeria.
Between November 3 and 7, 2025, investors at the Nigerian Exchange Limited (NGX) lost a total of ₦2.8 trillion, marking one of the most significant weekly declines of the year.
Market capitalisation dropped to ₦94.9 trillion, while the All-Share Index (ASI) fell by 2.99%, sliding from 154,126.46 points to 149,524.81 points.
The market traded bearish throughout the week investors shed ₦245.88 billion, followed by a loss of ₦611.96 billion on Tuesday. Wednesday recorded the sharpest single-day plunge, with ₦1.31 trillion wiped off market value. The sell-off persisted through Thursday (₦347.75 billion loss) and Friday (₦318.78 billion loss), sealing the week’s cumulative loss at ₦2.8 trillion.
Trading activity also slowed compared to the previous week. Investors exchanged 3.575 billion shares worth ₦107.01 billion in 146,429 deals, a decline from 7.479 billion shares valued at ₦145.43 billion traded in 159,487 deals the previous week.
The financial services sector dominated the volume chart, accounting for 2.946 billion shares valued at ₦65.9 billion across 62,817 deals. Fidelity Bank Plc, FCMB Group Plc, and Aso Savings & Loans Plc led trading, contributing 36.03% of total market volume and 18.08% of value.
In terms of price movement, only 20 equities recorded gains down from 29 the previous week while 75 stocks declined, compared to 70 previously.
NCR (Nigeria) Plc topped the gainers’ list with a 20.94% increase, followed by Eunisell Interlinked Plc (+20.17%) and Union Dicon Salt Plc (+9.93%). On the flip side, Sovereign Trust Insurance Plc led the decliners with a 28.21% loss, trailed by C&I Leasing Plc (−20.16%) and Skyway Aviation Handling Company Plc (−18.99%).
The week’s performance reflects persistent investor unease driven by market volatility, macroeconomic headwinds, and profit-taking across sectors. Analysts suggest that Trump’s recent comments may have further dampened investor sentiment.
Recall that earlier in the week, Trump had designated Nigeria as a “Country of Particular Concern” over alleged religious persecution and threatened possible military action.
