Since 7 Feb 2026, the NGX All-Share Index has returned +45.1% in naira, while the S&P 500 (via SPY) returned +8.7% in dollars, which becomes +9.5% once converted to naira. The ASI stands at 243,799 today.
The right answer for most people is not either/or: it is both. NGX stocks give you naira income, franked dividends and exposure to the domestic recovery; US index funds give you dollar protection and exposure to global tech. See US stocks in naira, our stock-by-stock comparisons, or the NGX side on the NGX Pulse homepage.
ASI history in our database starts 7 Feb 2026; longer windows will appear as our data grows. S&P 500 measured via the SPY ETF. Not investment advice.