Market capitalization of listed domestic companies in Nigeria
Nigeria: Market capitalization of listed domestic companies was 29.9% in 2025. ◆ Volatile
Market capitalization of listed domestic companies in Nigeria, 1993–2025
Source: World Federation of Exchanges database, World Federation of Exchanges (WFE). Measured in % of GDP.
Analysis
In 2025, market capitalization of listed domestic companies in Nigeria stood at 29.9%.
Compared with earlier readings it is up 38.6% on the previous year and up 195.0% over ten years.
Over the whole period, market capitalization of listed domestic companies in Nigeria peaked at 30.5% in 2007 and was at its lowest, 2.5%, in 2002.
That places Nigeria 56th out of 99 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Market capitalization of listed domestic companies in Nigeria, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1993 | 3.8% | — |
| 1994 | 3.7% | -2.0% |
| 1995 | 5.5% | +49.0% |
| 1996 | 6.8% | +24.0% |
| 1997 | 6.3% | -8.7% |
| 1998 | 4.7% | -24.4% |
| 1999 | 5.0% | +5.2% |
| 2002 | 2.5% | -49.8% |
| 2004 | 11.7% | +367.9% |
| 2005 | 12.7% | +8.4% |
| 2006 | 13.8% | +8.7% |
| 2007 | 30.5% | +121.6% |
| 2008 | 14.2% | -53.6% |
| 2009 | 10.9% | -22.8% |
| 2010 | 13.8% | +26.1% |
| 2011 | 9.4% | -31.6% |
| 2012 | 12.1% | +28.6% |
| 2013 | 15.5% | +27.9% |
| 2014 | 10.9% | -29.5% |
| 2015 | 10.1% | -7.3% |
| 2016 | 7.4% | -27.4% |
| 2017 | 9.9% | +34.5% |
| 2018 | 7.5% | -24.5% |
| 2019 | 6.6% | -12.1% |
| 2020 | 9.2% | +40.4% |
| 2021 | 8.9% | -3.5% |
| 2022 | 9.6% | +8.3% |
| 2023 | 9.5% | -1.2% |
| 2024 | 21.6% | +126.3% |
| 2025 | 29.9% | +38.6% |
Nigeria compared with similar countries
- Nigeria's 29.9% is above the median for lower middle income countries, which is 17.2%, 1.7× the median. (20 countries reporting)
- Nigeria's 29.9% is above the median for Sub-Saharan Africa, which is 20.5%, 1.5× the median. (14 countries reporting)
Biggest year-on-year movements
Years where Market capitalization of listed domestic companies in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2004 | +367.9% | 2.5% | 11.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.1% | 3.7% | 6.8% | 7 |
| 2000s | 13.7% | 2.5% | 30.5% | 7 |
| 2010s | 10.3% | 6.6% | 15.5% | 10 |
| 2020s | 14.8% | 8.9% | 29.9% | 6 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Net domestic credit (current LCU), per capita 296,323 current LCU per person (2022)
- Net domestic credit (current LCU), per unit of GDP 102.21 current LCU per US$ of GDP (2022)
- Net domestic credit (current LCU), annual growth rate 35.83 % change on previous year (2022)
- Gold reserves at 35 SDRs per ounce 24.13 million SDR (2025)
- Gold reserves at market value 2.20 billion SDR (2025)
- Reserves excluding gold, foreign exchange 28.09 billion SDR (2025)
- Reserves excluding gold 31.41 billion SDR (2025)
- Total reserves (gold at market value) 33.61 billion SDR (2025)
- Total reserves (gold at national valuation) 33.58 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 141.38 SDR per person (2025)
Frequently asked questions
- What is market capitalization of listed domestic companies in Nigeria?
- Market capitalization of listed domestic companies in Nigeria was 29.9% in 2025, according to World Federation of Exchanges database, World Federation of Exchanges (WFE).
- What is the highest market capitalization of listed domestic companies recorded in Nigeria?
- The highest recorded value was 30.5% in 2007.
- What is the lowest market capitalization of listed domestic companies recorded in Nigeria?
- The lowest recorded value was 2.5% in 2002.
- How does Nigeria rank for market capitalization of listed domestic companies?
- Nigeria ranks 56th out of 99 countries with data for 2025.
- Is market capitalization of listed domestic companies rising or falling in Nigeria?
- Over the last ten years it is up 195.0%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Federation of Exchanges database, World Federation of Exchanges (WFE), published as part of Market capitalization of listed domestic companies (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values.