President Bola Tinubu has hailed corporate Nigeria, investors and other stakeholders after the Nigerian Exchange (NGX) surpassed a historic N100 trillion in market capitalisation.
In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President said the achievement should inspire greater participation in Nigeria’s money and capital markets, urging citizens to deepen investments in the domestic economy.
Tinubu assured investors that 2026 would deliver stronger returns as the administration’s economic reforms continue to take effect, positioning Nigeria as an increasingly attractive investment destination.
He said the NGX’s performance in 2025 stood out globally, with the All-Share Index closing the year with a return of 51.19 per cent, compared with 37.65 per cent in 2024.
According to the President, the performance ranked among the strongest worldwide, outpacing major indices such as the S&P 500 and FTSE 100, as well as several emerging markets within the BRICS+ bloc.
"Nigeria is no longer a frontier market to be ignored," Tinubu said, adding that the stock market’s growth reflected broader economic health and rising investor confidence.
He disclosed strong performances across listed companies, citing industrial firms that have localised supply chains and a banking sector marked by resilience and technological innovation.
The President also pointed to a robust pipeline of prospective listings, including indigenous energy companies, technology firms, telecoms operators and infrastructure-focused enterprises.
According to him, new listings would further expand market capitalisation while promoting broader public ownership of the economy.
Beyond equities, Tinubu stressed what he described as improving macroeconomic indicators, including a sustained decline in inflation following monetary tightening and the removal of "Ways and Means" financing.
He revealed inflation fell from a 24-month high of 34.8 per cent in December 2024 to 14.45 per cent by November 2025, with projections of 12 per cent in 2026.
The President added that Nigeria’s current account remained in surplus, rising from $16 billion in 2024, with Central Bank of Nigeria (CBN) projections placing it at $18.81 billion in 2026.
Non-oil exports, he said, grew by 48 per cent by the third quarter of 2025, while exports to Africa rose by 97 per cent.
Tinubu also cited growth in foreign reserves, which have exceeded $45 billion, alongside stabilisation of the naira and ongoing investments in transport infrastructure, healthcare and education.
Describing the N100 trillion market capitalisation as a signal of Nigeria’s economic capacity, the President pledged to sustain reforms aimed at building what he called a transparent, inclusive and high-growth economy.
The statement read:
"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% return, higher than the 37.65% 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% in December 2024, inflation decelerated to 14.45% as of November 2025, with projections indicating it will reach 12% 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% by the third quarter of 2025, totalling N9.2 trillion. Exports to Africa alone rose by 97% to N4.9 trillion. Manufacturing exports increased by 67% 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."
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