The Nigerian Exchange Limited (NGX) has announced significant changes to its market indices following its half-year review, which took effect at the open of the market on Tuesday, July 1, 2025. A key highlight of this reshuffle is the inclusion of Aradel Holdings Plc and Wema Bank Plc in the prestigious NGX 30 Index, replacing Conoil Plc and Julius Berger Nigeria Plc. This comprehensive review encompasses a wide array of benchmarks, designed to ensure the indices accurately reflect the true dynamics of the Nigerian equities market.

The review covered various indices beyond the NGX 30, including the NGX Lotus Islamic, NGX Pension, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, and Meristem Value Index. Additionally, the five sectoral indices of The Exchange—NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods, and NGX Oil & Gas—were also part of this extensive evaluation.

Specific adjustments were made across several indices. In the NGX Consumer Goods Index, McNichols Consolidated Plc has taken the place of Golden Guinea Breweries Plc. The NGX Insurance Index saw Lasaco Assurance Plc enter, while Fortis Global Insurance Plc and International Energy Insurance Plc exited. Austin Laz and Company Plc now replaces Notore Chemical Industries Plc in the NGX Industrial Index. The Afrinvest Dividend Yield Index welcomed Access Holdings Plc, FCMB Group Plc, and Julius Berger Nigeria Plc, indicating Julius Berger's continued presence and rebound in other categories despite its exit from the NGX 30.

Further reconfigurations impacted the Meristem Growth Index, where Wema Bank Plc, Chemical and Allied Products Plc, and Guaranty Trust Holding Company Plc were added. Conversely, Fidelity Bank Plc, Transnational Corporation Plc, United Bank for Africa Plc, Unilever Nigeria Plc, and Guinness Nigeria Plc were excluded from this index. For the Meristem Value Index, Julius Berger Nigeria Plc exited, making way for United Bank for Africa Plc, Unilever Nigeria Plc, and Guinness Nigeria Plc. No changes were reported for the NGX Banking, NGX Oil and Gas, NGX Pension, NGX Lotus Islamic, Corporate Governance, NGX Pension Broad, and Afrinvest Bank Value indices.

This index review is primarily based on the market capitalization methodology. The indices are consistently rebalanced on a semi-annual basis, occurring on the first business day of January and July each year. This systematic approach ensures that the indices remain relevant and effective tools for investors.

Commenting on these developments, Mr. Jude Chiemeka, the Chief Executive Officer of NGX, reaffirmed the Exchange's dedication to innovation and product development. He highlighted that these efforts are aimed at deepening the market and boosting liquidity, thereby reinforcing NGX's commitment to becoming Africa’s foremost securities exchange, efficiently connecting Nigeria to regional and global capital flows. Mr. Abimbola Babalola, Head of Trading & Products at NGX, further emphasized that the regular rebalancing of NGX indices allows investors to efficiently track market movements and effectively manage their investment portfolios.