President Bola Tinubu has commended corporate Nigeria, investors and other stakeholders in the capital market for pushing the Nigerian Exchange (NGX) past the historic N100 trillion market capitalisation mark.
Describing the feat as a defining moment for the nation’s economy, the President said the achievement should inspire greater confidence among participants in the money and capital markets, while urging Nigerians to channel more investments into the domestic economy.
According to him, in a statement, the year 2026 promises even stronger returns as the administration’s economic reforms begin to yield more robust and sustainable outcomes.
“With the Nigerian Exchange crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.
He noted that while many global markets struggled with stagnation or weak recovery in 2025, the NGX All-Share Index recorded remarkable growth, closing the year with a 51.19 per cent return, well above the 37.65 per cent achieved 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,” the President stated.
He stressed that Nigeria could no longer be dismissed as a frontier market, describing the country instead as “a compelling destination where value is being discovered.”
“As the stock market reflects the entire economy, its stellar performance is a strong indicator of economic health and the confidence investors have in Nigeria,” he said.
Tinubu also highlighted strong performances across sectors on the NGX, citing industrial firms that have localised supply chains and a resilient banking sector driven by technological innovation.
According to a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President revealed that the pipeline for new listings remains strong, with indigenous energy firms, technology companies, telecoms operators and infrastructure-heavy entities preparing to access the public market to finance expansion.
“As these firms are listed, they will further boost market capitalisation and deepen democratic ownership of the Nigerian economy,” he added.
The President linked the capital market’s growth to broader macroeconomic improvements, noting that inflation has begun to moderate following initial reform-related headwinds.
He attributed the improvement to decisive monetary tightening, the elimination of distortionary “Ways and Means” financing and increased investment in agriculture.
“From a 24-month high of 34.8 per cent in December 2024, inflation decelerated to 14.45 per cent by November 2025, with projections showing it could reach 12 per cent in 2026. Indeed, inflation is likely to fall below 10 per cent before the end of this year,” Tinubu said, expressing optimism about improved living standards and faster GDP growth.
He further disclosed that Nigeria’s current account position remains strong, with a $16 billion surplus recorded in 2024 and projections by the Central Bank of Nigeria (CBN) indicating a rise to $18.81 billion in 2026.
On trade, the President said Nigeria is exporting more and importing less of what it can produce locally.
Non-oil exports, he said, surged by 48 per cent by the third quarter of 2025 to N9.2 trillion, while exports to Africa jumped by 97 per cent to N4.9 trillion. Manufacturing exports also rose by 67 per cent year-on-year in the second quarter of 2025.
Tinubu disclosed that foreign reserves have exceeded $45 billion, giving the CBN greater capacity to maintain stability, with projections of reserves crossing $50 billion in the first quarter of 2026.
He also pointed to progress in infrastructure, including expanded rail networks, completed arterial roads, revitalised ports and the development of the Lagos-Calabar and Sokoto-Badagry superhighways.
“Our healthcare facilities are improving, medical tourism costs are declining, students are benefitting from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.
Emphasising that nation-building is a continuous process, the President described the N100 trillion market capitalisation milestone as “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, further catalysed by historic tax and fiscal reforms that took full effect from January 1,” Tinubu said.
