Nigeria stocks lose N5.9tn in two-week sell-off, BUA Foods, MTN lead decline

The Nigerian equities market lost about N5.9 trillion in value between Monday, August 10 and Friday, August 21, 2026, as market capitalisation fell from N160.42 trillion to N154.53 trillion. The All-Share Index dropped 9,178.59 points (‑3.69%) to 239,351.16 points, its lowest level since July 8. BUA Foods and MTN Nigeria accounted for nearly half the loss, shedding N1.521 trillion and N1.386 trillion respectively, with share prices falling from N845.10 to N760.60 and N845.00 to N779.00. Fourteen other blue‑chip stocks made up the remaining N2.99 trillion loss, led by Unilever (‑21.89%), FCMB Group (‑10.85%) and Dangote Sugar (‑6.99%). Despite the sell‑off, the year‑to‑date ASI return remains positive at 53.81%. The correction was driven by profit‑taking after a strong rally that topping 248,529.75 points on August 10.

What should investors do with this information? Consider whether the current dip presents a buying opportunity for fundamentally sound stocks, or wait for clearer signs of stabilization before adding new exposure to the Nigerian equities market.

SOURCE: https://nairametrics.com/2026/08/23/ngx-sell-off-wipes-n5-9-trillion-bua-foods-mtn-take-biggest-hit/