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Naira rally lifts Nigeria stocks to Africa’s top spot - BUSINESSDAY

FEBRUARY 23, 2026

...NGX up 34.4% in dollar terms ...Analysts see more upside for undervalued stocks Nigeria is officially the best stock market in Africa right now, riding on the back of a strong naira, foreign investor appetite, and a bull market run to become the continent's top performer in 2026. BusinessDay analysis of the data from African Markets, a real-time market intelligence platform, shows the benchmark index gained 34.4 percent in dollar terms year-to-date as of February 20. 

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