The Nigerian stock market has entered a new era of stability and growth as the 37 percent growth in the market index in 2024, coupled with the sustained rally in 2025, has been largely driven by strong participation from local retail and institutional investors, the Managing Director of Arthur Stephen Asset Management Limited, Olatunde Amolegbe has said.

According to him, this trajectory is expected to continue with a 39 percent return in the All-Share Index (ASI) at the end of the 2025 financial year.

Speaking at the CAMCAN 2024 Market Review and 2025 Outlook event in Lagos, Amolegbe described the increasing dominance of local retail and institutional investors as a significant departure from the market’s earlier reliance on foreign portfolio investors, which often led to heightened volatility.

He pointed out that the growing participation of local investors is fostering more stable and reliable market dynamics, noting that markets dominated by local institutional investors provide a solid base and reduce volatility.
The expert added that the market’s transition is underscored by the increasing localisation of Nigeria’s economy and by extention, the stock market.

https://guardian.ng/business-services/business/local-investors-to-drive-projected-39-growth-in-stock-market-for-2025/