NGX ETF Trading Value Hits N1.11bn in Stunning Weekly Rebound
The Nigerian Exchange ETF market staged a strong comeback in the week ended May 8, 2026, with NGX ETF trading value climbing to N1.11 billion as investor appetite returned across most tracked funds following a bruising April.
Investors Return as Broad ETF Recovery Takes Hold
The SIAML Pension ETF 40 led the charge among gainers, surging 58.78% to close at N9,349.99, with its market capitalisation rising to N60.31 billion from N37.98 billion the previous week. The sharp reversal is particularly striking given that the same fund had shed nearly 59% in April.
The Stanbic IBTC ETF 30 advanced 19.75% to N4,730, while the Lotus Halal Equity ETF gained 15.74% to close at N139. The Vetiva Griffin 30 ETF and Vetiva Industrial ETF also posted double-digit gains of 13.38% and 12.14% respectively.
Not every fund shared in the recovery. The Meristem Growth ETF recorded the steepest weekly decline, dropping 27.71% to close at N98.6, while the Meristem Value ETF fell 9.63% and the Vetiva S&P Nigeria Sovereign Bond ETF slipped 3.85%.
On the activity front, total trading volume rose to 7.59 million units, with the Stanbic IBTC ETF 30 recording the highest traded value at N203.32 million, followed by the Lotus Halal Equity ETF at N155.23 million and the Vetiva Griffin 30 ETF at N150.59 million.
Analysts caution that the NGX ETF trading value figures should be read carefully. ETF price movements on the NGX may not fully reflect underlying asset values, as relatively thin liquidity can cause significant deviations from net asset value, meaning sharp price swings often driven more by trading activity than changes in the fundamentals of underlying assets.
This rebound follows a period of broad losses across the NGX ETF market in April 2026, when the Meristem Growth ETF plunged 59.29% and the SIAML Pension ETF 40 fell 58.74%, with the Vetiva Griffin 30 ETF emerging as the only gainer that month. Read the full April breakdown on Nairametrics.
