Nigerian Share Market Drops Ahead of Public Holidays

 By Babatunji Wusu

The Nigerian equities market dropped significantly as pre-holiday anxiety caused a widespread sell-off on the trading floor. Local investors suffered a massive loss of N889 billion just before the upcoming break. The market is pausing because the federal government declared Wednesday, 27 May, and Thursday, 28 May 2026, as public holidays for the Eid al-Adha celebrations.

According to the latest financial results, the All-Share Index fell by 0.55 per cent to finish at 249,738.84 points. At the same time, the total value of the Nigerian equities market shed N889 billion to close at N160.094 trillion. This downturn happened because share values dropped for several major firms, including Transcorp Power, Unilever Nigeria, Dangote Sugar Refinery, and GTCO.

Experts at Cowry Assets Management Limited believe that trading sentiment will stay mixed during the next session as people remain careful before the festive break. Market breadth stayed weak, with 37 companies losing value while only 18 managed to make gains. Austin Laz and Company and McNichols performed the best, with both gaining 10 per cent.

In contrast, Dangote Sugar Refinery fell the hardest on the losers’ chart, dropping by 10 per cent to finish at N78.30 per share. Transcorp Power followed closely with a 9.97 per cent drop to close at N245.50. Market data showed that the total number of shares traded fell by 10.38 per cent to 564.066 million units, valued at N27.222 billion across 65,666 deals. Shares in Access Holdings were the most active, with 80.607 million shares traded, followed closely by Zenith Bank. Investors are now waiting to see how the Nigerian equities market reacts after the two-day holiday ends.