President Bola Ahmed Tinubu has praised corporate Nigeria, investors, and other stakeholders in the capital market for pushing the Nigerian Exchange past the historic N100 trillion market capitalization mark, describing the achievement as a powerful signal of renewed confidence in the Nigerian economy.
In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the president said the milestone marked an inspiration for the investing public in the money and capital markets and urged Nigerians to deepen their investments in the domestic economy, assuring that 2026 would deliver even stronger returns as his administration’s economic reforms mature.
“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 said.
He noted that the performance of the Exchange in 2025 stood out globally despite difficult conditions in many economies.
“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,” President Tinubu said.
According to him, the rally underscores a fundamental shift in how Nigeria is perceived by global investors.
“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,” he said.
Tinubu said the gains were broad-based across sectors, pointing to resilience and innovation among listed firms, saying, “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,” he said.
He added that the outlook for new listings remained strong, with major implications for market depth and ownership, adding, “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,” he said.
Beyond equities, the President linked the market rally to wider macroeconomic improvements flowing from his reform agenda.
“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,” he said.
He said policy actions and sectoral investments were already yielding results, adding, “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,” he said.
Tinubu also highlighted improvements in Nigeria’s external position, citing current account and trade data.
“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,” he pointed out.
On exports and reserves, the President said Nigeria was increasingly producing and trading more competitively, saying, “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,” he added.
The president also drew attention to infrastructure and social sector improvements underway, saying, “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-Calabar and Sokoto-Badgry superhighways, the nation’s infrastructure is growing.”
He said progress was also being recorded in healthcare and education.
“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,” he said.
Framing the NGX milestone within a broader national journey, Tinubu said, “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″, the President said in reaffirming his commitment.
