ABUJA: Nigeria's stock index climbed 50% in 2020, its highest level in 17 years after domestic investors piled into equities in the last quarter of the year following excess cash on money markets due to low bond yields.

The all share index fell 14.6% last year after sluggish growth cast a shadow on the economy. However, local investors piled into equities after central bank measures to lift growth dampened yields on domestic debt.

Stocks rose 1.92% to 40,270.72 points by 1146 GMT to remain at a near three-year high they reached in the previous session.