By Ayo Ayodele
President Bola Tinubu has commended stakeholders in Nigeria’s capital market for pushing the Nigerian Exchange (NGX) past the N100 trillion market capitalisation mark, describing the milestone as a signal of renewed economic confidence and growth.
In a statement issued on Thursday, the President said the achievement reflects the resilience of corporate Nigeria and the impact of his administration’s economic reforms. He urged Nigerians to deepen investments in the local economy, assuring that stronger returns are expected in 2026.
Tinubu noted that while many global markets struggled in 2025, the NGX All-Share Index delivered a 51.19 per cent return, outperforming major global indices including the S&P 500 and FTSE 100. He described Nigeria as an increasingly attractive investment destination rather than a marginal frontier market.
According to the President, strong performances across key sectors—particularly banking, industry, and technology—have reinforced investor confidence. He also disclosed that several indigenous firms in energy, telecommunications, infrastructure, and technology are preparing to list on the exchange, a move expected to further boost market capitalisation and broaden ownership of the economy.
Beyond the capital market, Tinubu highlighted what he described as improving macroeconomic indicators, including declining inflation, stabilisation of the naira, rising foreign reserves, and a stronger current account position. He said inflation, which peaked at 34.8 per cent in December 2024, had declined to 14.45 per cent by November 2025 and is projected to fall further in 2026.
The President also cited growth in non-oil exports, increased manufacturing output, expanding infrastructure, and reforms in education, healthcare, and transportation as signs of broader economic recovery.
He said Nigeria’s foreign reserves have exceeded $45 billion and are projected to surpass $50 billion in early 2026, while export growth and reduced import dependence continue to strengthen the economy.
Tinubu reaffirmed his administration’s commitment to sustained economic reforms, including tax and fiscal measures that took full effect from January 1, 2026, pledging to build a transparent, inclusive, and high-growth economy.