Tinubu Hails Nigerian Exchange’s N100trn Capitalisation Milestone

BY JONATHAN NDA- ISAIAH, Abuja and OLUSHOLA BELLO, Lagos

President Bola Tinubu has commended Nigerian Exchange Group (NGX Group), corporate Nigeria, market operators, and investors for propelling the Exchange past the historic N100 trillion market capitalisation mark, describing the achievement as a powerful signal of renewed investor confidence and economic rejuvenation.

President Tinubu described this record achievement as an inspiration for the investing public operating in the money and capital markets.

Tinubu urged Nigerians to deepen their investments in the local economy, assuring that 2026 will yield even greater returns as his administration’s economic reforms continue to deliver stronger outcomes, according to a statement by his spokesman, Bayo Onanuga,

“With the Nigerian Exchange (NGX) crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation.

“In 2025, while many of the world’s markets struggled with stagnation or tepid recovery, the NGX All-Share Index was on the ascent. It closed 2025 with a 51.19 per cent return, higher than the 37.65 per cent recorded in 2024. This performance ranks among the highest in the world. Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group.

“Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered. As the stock market reflects the entire economy, its stellar performance is a significant indicator of the country’s economic health and the confidence investors have in our economy

“On the NGX, we have witnessed remarkable performances from listed companies across all sectors. From blue-chip industrial giants that have localised their supply chains, to a banking sector that has demonstrated resilience and technological innovation, Nigerian companies are proving that the country can deliver strong returns on investment.

“And we are just getting started. The pipeline for new and upcoming listings looks robust. More indigenous energy firms, tech unicorns, telecoms, and infrastructure-heavy entities are seeking to access the public market to fund their expansion. As these firms are listed, they will boost market capitalisation and deepen democratic ownership of the Nigerian economy.

“We are not celebrating the superlative stock market performance in isolation. We are also celebrating the microeconomic effects of our reforms. After the initial headwinds that followed our reforms, we are finally seeing a bend in the inflation curve. Crucial monetary tightening and the removal of distortionary ‘Ways and Means’ financing have restored stability to the Naira. Furthermore, investments in the agriculture sector have contributed to a consistent decline in inflation over the past eight months.

From a 24-month high of 34.8 per cent in December 2024, inflation decelerated to 14.45 per cent as of November 2025, with projections indicating it will reach 12 per cent in 2026. Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians.

“Also noteworthy is the status of our nation’s current account, a valid measure of our overall economic health. In 2024, Nigeria posted a surplus of $16 billion. According to the Central Bank of Nigeria (CBN), our current account balance is projected to rise to $18.81 billion in 2026, up from $16.94 billion in 2025.

“Under our administration, Nigeria is exporting more and importing less of what we can produce locally. Non-oil exports surged by 48 per cent by the third quarter of 2025, totalling N9.2 trillion. Exports to Africa alone rose by 97 per cent to N4.9 trillion. Manufacturing exports increased by 67 per cent year-on-year in the second quarter of 2025, suggesting a strong close to the year.

“Nigeria’s foreign reserves have crossed the $45 billion mark, giving the Central Bank the firepower to maintain stability. The Naira has stabilised, moving away from the volatility that once fuelled speculation. The Central Bank of Nigeria, in its latest outlook, projects foreign reserves will cross the $50 billion threshold in the first quarter of 2026.

“We are also seeing an expansion of the rail networks, the completion of major arterial roads and the revitalisation of our ports. With the transformative Lagos-Clabar and Sokoto-Badgry superhighways, the nation’s infrastructure is growing.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund (NELFUND), and universities are receiving increased research grants.

“Nation-building is a process, not a destination. Hard work, sacrifices, and the focus of its citizens build a nation. The N100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust and productive.

“As your leader, I pledge to continue working unrelentingly to build an egalitarian, transparent, and high-growth economy that will be further catalysed by the historic tax and fiscal reforms that came into full implementation from January 1,” President Tinubu said.

Meanwhile, responding to the President’s remarks, the director-general of the Securities and Exchange Commission (SEC), Emomotimi Agama, credited Tinubu’s leadership for driving the market to historic heights.

“The N100 trillion milestone is a direct result of the administration’s decisive reforms and unwavering commitment to transparency and fiscal discipline. These policies have renewed investor trust and solidified the credibility of Nigeria’s capital market,” Agama stated.

He reaffirmed the SEC’s alignment with the President’s economic vision, pledging to strengthen oversight, protect investors, and uphold governance standards to ensure sustained growth and resilience.

The group managing director/CEO of Nigerian Exchange Group, Temi Popoola, commended President Tinubu for providing the policy clarity and reform momentum that have bolstered investor confidence.

Popoola said, “the capital market has responded positively to improved macroeconomic coordination and clear reform direction, creating an enabling environment for sustainable investment. It validates our focus on market development, innovation, and creating an environment where both local and global investors can deploy capital with confidence.”

He added that NGX Group would continue collaborating with regulators and stakeholders to attract quality listings, deepen liquidity, and expand retail participation, reinforcing our position as a catalyst for sustainable economic growth.

“Nation-building is a process, not a destination. The N100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust, productive, and open for business,” the President affirmed.