Nigeria’s equities market is rolling back a one-size-fits-all pricing rule on a bet that nuance will revive price discovery in its largest stocks. Under a new set of Nigerian Exchange (NGX) rules approved by the Securities and Exchange Commission (SEC) June 16, shares priced at N1,000 or above require just 10,000 shares traded to shift price. However, those between N500 and N1,000 need 50,000, while cheaper names below N500 stick with the 100,000-unit bar. This rule replaces the blunt uniform 100,000-share requirement imposed in recent years, but the question is whether it merely recycles 2018-era thinking or signals genuine maturity for Africa’s frontier markets.