Investors on the Nigerian Exchange (NGX) lost a combined N2.932 trillion during trading on Tuesday and Wednesday.
Market capitalization fell by N1.762 trillion on Wednesday alone. This followed a N1.17 trillion loss recorded during Tuesday's session.
The All-Share Index dropped 1.12% on Wednesday to close at 243,967.09. Price declines in major stocks including BUA Foods and Unilever drove the downturn.
The slump moderated the market’s year-to-date return to 56.78%. Total trading volume also declined as overall market activity weakened.