NGX 2026 Half-Year Review: Oando and Transcorp Evicted from Elite NGX 30 Index
The Nigerian Exchange (NGX) Limited has announced a major shake-up in its premier indices following the conclusion of its 2026 half-year market review.
In the biggest news of the review, corporate giants Oando Plc and Transcorp Plc have been officially evicted from the prestigious NGX 30 Index. Stepping into the spotlight to replace them are consumer goods heavyweight Unilever Nigeria Plc and food processor NASCON Plc.
Understanding the NGX Review Process
The NGX indices are designed using a market capitalization methodology. To ensure they accurately reflect changing market dynamics and align with international best practices, the exchange conducts semi-annual reviews on the first business day of January and July.
Market Note: The exchange maintains the right to make further adjustments to these indices outside the standard schedule in the event of mergers, acquisitions, trading suspensions, or other significant corporate actions.
While major sectors like banking, consumer goods, insurance, industrial goods, energy, and pension indices witnessed zero entries or exits this period, several other specialized indices saw massive restructuring.
At a Glance: The 2026 Index Changes
To help you track how the market has shifted, here is the complete breakdown of the entries and exits across the affected NGX indices:
| Index | New Additions (In) | Departures (Out) |
|---|---|---|
| NGX 30 Index | Unilever Nigeria, NASCON | Oando, Transcorp |
| Lotus Islamic Index | Nestle Nigeria, Cadbury Nigeria | NASCON |
| Afrinvest Bank Value Index | Stanbic IBTC Holdings | None |
| Afrinvest Div Yield Index | Seplat Energy, Fidelity Bank, Stanbic IBTC Holdings, Custodian Investment, NAHCO | Access Holdings |
| Meristem Growth Index | Eterna, PZ Cussons | BUA Cement, GTCO, AXA Mansard Insurance, NAHCO, NASCON, Okomu Oil, Lafarge Africa (HBM Nigeria), Wema Bank |
| Meristem Value Index | Chemical and Allied Products (CAP), Honeywell Flour Mills, Dangote Cement, Linkage Assurance, Livestock Feeds, NASCON, Okomu Oil, TotalEnergies | Ecobank, Guinness Nigeria, Zenith Bank |
Key Takeaways for Investors
- The Rise of Consumer Goods: Unilever and NASCON's ascension to the NGX 30 highlights strong institutional interest and market cap growth in the consumer staples sector, despite wider economic pressures.
- Aggressive Rebalancing in Growth & Value: The Meristem indices saw the highest volume of turnover, signaling a heavy rotation by fund managers away from traditional banking and industrial heavyweights (like GTCO, Zenith, and BUA Cement) into tactical energy and agricultural stocks.
