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Tinubu: Capital Market Boom Proves Reforms Are Paying Off
President Bola Ahmed Tinubu has declared that Nigeria’s economic reforms are restoring investor confidence, revealing that the market capitalisation of companies listed on the Nigerian Exchange (NGX) has surged beyond ₦158 trillion since the inception of his administration.
The President made the declaration on Thursday after receiving the Chairman of the Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, the Group Managing Director/Chief Executive Officer, Temi Popoola, and members of the Board and Management at the Presidential Villa, Abuja.
Tinubu described the latest performance of the Nigerian capital market as clear evidence that his administration’s economic policies are yielding results, insisting that both local and foreign investors are regaining confidence in Nigeria.
“The presentation I received from the NGX today confirmed that our reforms are restoring that confidence,” the President said.
According to him, the market capitalisation of listed companies has climbed above ₦158 trillion, while foreign portfolio investment has risen almost sevenfold to ₦1.28 trillion under his administration.
“These are signs that confidence in Nigeria is returning because our economy is becoming stronger, more stable and more competitive,” he stated.
The President said he was more concerned about how the renewed confidence would improve the lives of ordinary Nigerians than the impressive market figures.
He explained that easier access to capital would enable manufacturers to expand operations and give young entrepreneurs greater opportunities to secure investment without looking outside the country.
“A manufacturer in Aba looking to expand should find capital more easily. A young entrepreneur in Kaduna or anywhere else in Nigeria with a bold idea should have a better chance of finding investment at home,” Tinubu said.
He added that millions of Nigerian workers whose pensions are invested in the capital market also stand to benefit from the growth.
“That is how economic progress becomes personal for every Nigerian,” he noted.
The President further disclosed that the Nigerian Exchange had emerged as one of the world’s best-performing equity markets in the first half of the year, attributing the achievement to his administration’s commitment to difficult but necessary economic reforms.
“The world is also paying attention to Nigeria again,” he said, adding that the recognition was earned through “discipline, consistency and the resolve to pursue reforms in the long-term interest of our country.”
Tinubu reaffirmed his administration’s commitment to building an economy that rewards enterprise, protects investment and delivers tangible benefits to citizens.
“We welcome every investor and every partner prepared to build, invest and grow with Nigeria for the long term. Our destination has not changed. We are building an economy that rewards enterprise, protects investment, and improves the everyday lives of the Nigerian people. The work continues,” the President declared.
He also commended Kwairanga, Popoola and the NGX leadership for their stewardship of an institution he said has supported Nigerian enterprise and capital formation for more than six decades.
