Nigerian equities closed the week of April 2, 2026 with a modest but clear gain of about 1.2%, as the NGX ASI ended Thursday at 1,502.32, up 0.40% on the day. The move was driven less by the exchange’s biggest names than by a sharp rally in insurance counters and selected technology stocks, while Oando slipped 2.2% to NGN 48.5 despite Brent crude holding above $109 a barrel. That divergence matters. Brent rose 7.8% on the day to $109.03/bbl, but it was still down 3.3% over the week as global markets tried to price the Iran war, the Strait of Hormuz supply risk and the possibility of a partial de-escalation, according to the macro headlines provided. For Nigeria, Africa’s largest oil producer, that mix of high but volatile crude and a relatively steady naira at NGN 1,377.65 per dollar, with the dollar down 0.14% on the day, was enough to support domestic risk appetite without triggering a broad-based energy rally.
Key figures
- NGX ASI: 1,502.32, up 0.40% on Thursday and about 1.2% for the week
- Market breadth: 34 gainers, 24 losers, 90 unchanged
- Brent crude: $109.03/bbl, up 7.8% on the day but down 3.3% on the week