Nigeria’s listed companies fell to 165 companies in 2025.

Higher is better. A higher count means investors have more companies to choose from and more firms have access to public equity. The latest figure is 165 companies in January 2025, down from 169 companies a year earlier, a fall of 2.4%. Since 2016 the count has ranged from 164 companies in 2018 to 180 companies in 2019. The current level sits one company above that low and well below the 2019 peak.

Why it matters. With 165 companies, Nigerian savers and pension investors who buy locally listed shares have a narrow field to pick from. A firm planning to raise equity on the exchange would join a smaller group than the one that existed in 2019. The drop of 4 companies over the last year points to exits outpacing new listings, and the next year-end count will show whether that continues.