# Nigeria Stocks Dip as Oil and Banks Fall

> Nigeria's stock market dips 0.02% as oil and banks slide, with a peace summit planned for November 7.
- Title: Nigeria Stocks Dip as Oil and Banks Fall · The Rio Times
- Summary: Nigeria's stock market dips 0.02% as oil and banks slide, with a peace summit planned for November 7. Nigeria's stock market fell 0.02% on Monday, with oil…
- Keywords: nigeria, stocks, oil, banks, rotary summit, lagos, nigerian exchange, all share index, brent crude, nigerian market, news, world
- Source: The Rio Times — https://riotimesonline.com/nigeria-stocks-slip-oil-banks-fall-rotary-summit-2026
- Author: Samuel Ncube
- Published: 2026-11-03T08:03:51+00:00
- Read time: 1 min
- Topics: nigeria, stocks, oil, banks, rotary summit, lagos, nigerian exchange, all share index, brent crude, nigerian market, news, world
## Market Opens Lower
Nigeria’s stock market opened November lower on Monday 2 November with the All-Share Index down 0.02% to 254,245.21 points.
## Oil and Banks Lead Losses
Oil and gas shares fell 3.75% while banks dropped 1.79% in the first trading day of November.
## Year-to-Date Rally
The index remains up 63.38% this year despite the small dip.
## Market Value Drop
Market value fell NGN 35.25 billion (about US$26 million) to NGN 165.08 trillion (about US$123 billion).
## Sector Performance
The NGX Oil and Gas Index fell 3.75%, banking index dropped 1.79%, and industrial index rose 3.34%.
## Rotary Peace Summit
Lagos hosts the All Nigeria Rotary Peace Summit on Saturday 7 November with theme Good Governance, Justice and Equity.
## Summit Convener
Yinka Babalola, president of Rotary International since July 2026, convenes the summit.
## US Travel Advisory
The US State Department advises reconsidering travel to Nigeria due to Level 3 travel advisory.
## Market Activity
Investors traded 517.26 million shares, 48.15% fewer than Friday, with 41 shares down and 21 up.
## What to Watch
Whether oil, gas and bank shares keep falling this week and summit outcomes on governance and peace.
## Market Context
The dip is small against a very large rally, with the index up 63.38% this year.
## Next Steps
Trading resumes Tuesday 3 November with summit on Saturday 7 November.
## Key takeaway

Nigeria's stock market fell 0.02% on Monday, with oil and gas shares dropping 3.75% and banks 1.79%.