According to the Nigerian Exchange (NGX), the top 10 Nigerian stockbrokers executed trades worth N7.3 trillion in 2025, accounting for 61.82% of the total market value of trades by all stockbrokers.
This marks a remarkable 135.39% increase from the N3.1 trillion facilitated by these brokers in 2024, signaling a surge in trading interest.
Across all Nigerian brokers, the total value of trades rose to N11.94 trillion, up from N5.7 trillion in 2024.
This increase was mirrored in trade volumes, which rose from 278.3 billion shares in 2024 to 452.5 billion in 2025, with the top 10 brokers contributing 49.41%.
Behind these impressive figures are the improved performances of several brokers.
For this review, trade value is the key metric, capturing not just trade frequency but also size and significance, providing a clearer measure of each broker’s market impact.
Exceptions to the review are Chapel Hill Denham Securities and Absa Securities Nigeria, which entered the top 10 in 2025 with N1.01 trillion and N426 billion, respectively, having been absent from the 2024 ranking.
United Capital, with N316.1 billion—down 7% from N341 billion—was not included
Meristem Stockbrokers Limited enjoyed significant growth, recording a 155.99% increase in trade value from N188.1 billion in 2024 to N481.6 billion in 2025.
The broker ranked 6th by value, contributing 4.03% to the overall market, up from 3.30% the previous year. Among the top 10 brokers, Meristem accounted for 6.52% of the total N7.3 trillion, a rise from 6.00% in 2024.
On the volume side, Meristem made an impressive jump to 4th position, facilitating 19 billion shares in 2025 compared to 10.3 billion shares in 2024, signaling strong momentum in both trade activity and market influence.
