Nigeria’s benchmark stock index hit a six-week low on Thursday, retreating from recent peaks as investors engaged in profit-taking. This market correction led to a combined $2.35 billion decline in the estimated net worth of four prominent Nigerian billionaires: Aliko Dangote, Abdul Samad Rabiu, Mike Adenuga, and Femi Otedola. Analysts characterize the downturn as a normal cyclical adjustment rather than a fundamental shift, citing third-quarter seasonality and investors rotating capital into fixed-income securities. Despite the pullback, the market maintains a 55.9 percent year-to-date return, supported by ongoing corporate earnings and regulatory reforms.