Tinubu Hails NGX Growth, Backs More Capital Market Reforms

President Bola Tinubu has commended Nigeria’s capital market’s remarkable growth since he assumed office over two years ago.

Tinubu noted the phenomenal rise in market capitalisation and increased trading activity which have broadened investment opportunities for Nigerians and international investors.

According to a statement by presidential spokesman, Bayo Onanuga, the President spoke on Tuesday during his state visit to Brazil, when he received the Director-General of the Securities and Exchange Commission (SEC) and the Board of Directors of the Nigerian Exchange Group Plc.

He described the market’s performance as a clear reflection of investor confidence in his administration’s reforms and bold economic measures.

“Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation, so that our economy works for every Nigerian,” Tinubu said.

He lauded the NGX Board and SEC leadership for their commitment, affirming his administration’s unwavering resolve to elevate Nigeria’s financial ecosystem.

Tinubu stressed that this dialogue was vital to achieving the Renewed Hope Agenda’s economic targets and positioning Nigeria as Africa’s premier investment destination.

The President promised to continue supporting the capital market and expressed readiness to implement additional reforms to strengthen and expand the sector.

SEC Director-General, Dr. Emomotimi Agama applauded the recent signing of the Investment and Securities Act (ISA) 2025, describing it as one of Africa’s most comprehensive legal frameworks for capital markets.

Agama stated that the Act will propel Nigeria toward a ₦300 trillion market while ensuring equitable wealth distribution through strong investor protection and regulatory clarity.

For his part, Chairman of the NGX Group, Alhaji Umaru Kwairanga expressed gratitude for the President’s bold reforms, noting that trading volumes and market values have nearly tripled since the commencement of the current administration.

He called for fast-tracking of the listing of major state-owned enterprises, such as NNPC Limited, and the introduction of tax incentives to sustain this momentum.

Chairman also invited the President to visit the NGX trading floor to recognise these achievements.

Group CEO of NGX Group, Temi Popoola emphasised the importance of positioning Nigeria’s Exchange as a global investment hub through stronger partnerships, modernised market infrastructure, and deeper product innovation.

He joined the delegation in thanking the President for his bold reforms.

Furthermore, Popoola emphasised that expanding retail investor participation through digital channels will promote inclusive and sustainable market growth.

The Director of NGX Group Plc, Nonso Okpala commended the administration’s reforms, citing exchange rate stability and macroeconomic predictability under the Renewed Hope Agenda as drivers of the company’s growth.

He encouraged other Nigerian businesses to list on NGX as a pathway to democratising wealth and broadening participation.