President Bola Tinubu has praised corporate Nigeria, investors and other stakeholders in the capital market following the Nigerian Exchange’s (NGX) crossing of the N100 trillion market capitalisation mark.
In a statement on Thursday signed by his Special Adviser on Information and Strategy, Bayo Onanuga, the president described the milestone as “the birth of a new economic reality and rejuvenation,” urging Nigerians to deepen their investments in the local economy.
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As of 5 January , the rally in Nigerian equities has continued. Market capitalisation rose to N101.8 trillion, extending gains that pushed the NGX past the N100 trillion mark.
Temi Popoola, group managing director and chief executive of Nigerian Exchange Group, said the milestone “reflects the market’s growing depth, resilience, and capacity to respond positively to improving macroeconomic conditions and structural reforms.”
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“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,” Mr Tinubu said.
He said the strong performance of the stock market reflected growing investor confidence in Nigeria’s economy, noting that the NGX All-Share Index recorded a 51.19 per cent return in 2025, compared with 37.65 per cent in 2024.
“In 2025, while many of the world’s markets struggled with stagnation or tepid recovery, the NGX All-Share Index was on the ascent,” the president said. “This performance ranks among the highest in the world.”
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He added that Nigeria’s equities market had outperformed major global indices, including the S&P 500 and FTSE 100, as well as several emerging market peers.
“Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered,” Mr Tinubu said.
The president said the performance of listed companies across sectors showed that Nigeria could deliver strong returns on investment, citing resilience in the banking sector, localised supply chains in industrial firms and innovation across industries.
“And we are just getting started,” he said, adding that more indigenous energy companies, technology firms, telecoms and infrastructure-heavy entities were preparing to list on the exchange.
Mr Tinubu also linked the stock market rally to broader economic reforms undertaken by his administration, including monetary tightening and the removal of “Ways and Means” financing.
“After the initial headwinds that followed our reforms, we are finally seeing a bend in the inflation curve,” he said.
According to the president, inflation fell to 14.45 per cent in November 2025 from a 24-month high of 34.8 per cent in December 2024, with projections pointing to further moderation 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,” he said, adding that “the year 2026 promises to be an epochal year for delivering prosperity to all Nigerians.”
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On Nigeria’s external position, Mr Tinubu said the country recorded a current account surplus of $16 billion in 2024, with projections showing a rise to $18.81 billion in 2026. He added that foreign reserves had crossed $45 billion and were expected to exceed $50 billion in early 2026.
He also cited improvements in non-oil exports, manufacturing output and infrastructure development, including roads, rail and ports, as signs of broader economic recovery.
“The N100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust and productive,” the president said.
“As your leader, I pledge to continue working unrelentingly to build an egalitarian, transparent, and high-growth economy,” he added.
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