Nigerian equities have overtaken South Korea to become the world’s best-performing stock market in dollar terms in 2026.
As KOSPI Crashes, Nigeria’s Stock Market Rockets to Global Number One
South Korea has lost its crown.
Analytics platform Global Markets Investor reports Nigerian equities have overtaken Korean stocks, delivering a 68% dollar return since January versus KOSPI’s 66%, based on Bloomberg data spanning 92 global exchanges.
The swap followed KOSPI’s sharp reversal — down 22% from its June 19 peak, now in bear territory as AI-stock enthusiasm faded, while the won slid nearly 5%.
Nigeria’s rally tells a different story: economic reforms, higher oil prices, improved forex liquidity, and a naira up 4%.
Unlike Korea’s AI-heavy market, Nigerian gains are financial-sector driven — Fortis Global Insurance alone surged roughly 1,483% in dollar terms, per the same source.
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