President Bola Ahmed Tinubu has commended corporate Nigeria, investors, and stakeholders in the capital market for driving the Nigerian Exchange (NGX) past the historic ₦100 trillion market capitalisation mark, describing the achievement as a beacon of the nation’s economic revival.
In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described the milestone as “an inspiration for the investing public operating in the money and capital markets.” He urged Nigerians to increase their investments in the local economy, promising even stronger returns in 2026 as his administration’s economic reforms continue to take effect.
“With the Nigerian Exchange crossing the historic ₦100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said. He highlighted the NGX All-Share Index’s 51.19 per cent return in 2025, surpassing 2024’s 37.65 per cent and outperforming major global indices such as the S&P 500, FTSE 100, and several 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.
Strong Corporate Performance and Promising Listings
Tinubu praised strong performances across multiple sectors, citing blue-chip industrials that have localised supply chains and resilient, technology-driven banks. He also noted a robust pipeline of upcoming listings from energy firms, tech unicorns, telecom operators, and infrastructure companies, which he said would further deepen market capitalisation and broaden public ownership of the economy.
Economic Reforms Yield Tangible Gains
The statement linked the NGX milestone to broader macroeconomic reforms, noting that 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 for 12 per cent in 2026 and potentially below 10 per cent by year-end. The decline is attributed to monetary tightening, the end of “Ways and Means” financing, and increased investment in agriculture.
The 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, according to the Central Bank of Nigeria (CBN). Non-oil exports rose by 48 per cent to ₦9.2 trillion by Q3 2025, while exports to Africa surged 97 per cent to ₦4.9 trillion, and manufacturing output increased 67 per cent year-on-year in Q2.
Foreign reserves have surpassed $45 billion, supporting naira stability, with projections of $50 billion by Q1 2026. Tinubu also highlighted infrastructure improvements, including expanded rail networks, major highways such as the Lagos–Calabar and Sokoto–Badagry corridors, port revitalisation, as well as gains in healthcare, education through NELFUND, and university research grants.
“Nation-building is a process, not a destination. Hard work, sacrifices, and the focus of its citizens build a nation. The ₦100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust and productive,” Tinubu said.
He pledged to continue working to build a transparent, egalitarian, and high-growth economy, driven further by historic tax and fiscal reforms that came into full effect on January 1, 2026.
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