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From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has commended corporate Nigeria, citizens and capital market stakeholders for propelling the Nigerian Exchange (NGX) past the historic N100 trillion market capitalisation mark, calling it a beacon of the nation’s economic revival.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga on Thursday, President Tinubu described the achievement as “an inspiration for the investing public operating in the money and capital markets.”
He urged Nigerians to ramp up investments in the local economy, promising even stronger returns in 2026 as his administration’s reforms gain momentum.
“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,” Tinubu stated.
He further spotlighted the NGX All-Share Index’s stellar 51.19% return in 2025, outpacing 2024’s 37.65% and surpassing global benchmarks like the S&P 500, FTSE 100, and many BRICS+ peers.
“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,” the president added.
Tinubu praised robust performances across sectors, from blue-chip industrials localising supply chains to resilient, tech-savvy banks. He highlighted a promising pipeline of listings from energy firms, tech unicorns, telecoms, and infrastructure players, which will deepen market capitalisation and public ownership.
The statement tied the milestone to broader reforms yielding tangible gains. Inflation has fallen from a 24-month high of 34.8% in December 2024 to 14.45% by November 2025, with projections for 12% in 2026 and below 10% by year-end, thanks to monetary tightening, the end of ‘Ways and Means’ financing, and agriculture investments.
Nigeria’s current account surplus hit $16 billion in 2024, is estimated at $16.94 billion for 2025, and is forecast to reach $18.81 billion in 2026, per Central Bank of Nigeria data. Non-oil exports jumped 48% to N9.2 trillion by Q3 2025, with African exports surging 97% to N4.9 trillion and manufacturing up 67% year-on-year in Q2.
Foreign reserves have topped $45 billion, stabilising the naira, with CBN projections for $50 billion by Q1 2026.
Infrastructure advances include expanding rail networks, major roads like the Lagos-Calabar and Sokoto-Badagry superhighways, port revitalisation, improved medicare, and boosts to education via NELFUND and 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,” Tinubu said. “As your leader, I pledge to continue working unrelingly 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.”
