President Bola Ahmed Tinubu has lauded the Nigerian Exchange Group (NGX Group), market operators, listed companies and investors for pushing the nation’s equities market beyond the landmark N100 trillion market capitalization level.
In release at the close of business on Thursday, January 8, the NGX quoted the President as saying that the milestone reflects growing trust in Nigeria’s reform agenda and urged Nigerians to participate more actively in the capital market to sustain wealth creation and economic growth.
He described the N100 trillion valuation as symbolic of a turning point for the economy, noting that the capital market’s performance increasingly mirrors improving fundamentals across key sectors.
According to Tinubu, the achievement signals that Nigeria’s economy is entering a new phase defined by stability, reform-driven growth and expanding investment opportunities.
What NGX is saying
NGX Group said the historic milestone underscores the effectiveness of ongoing economic reforms and improved macroeconomic coordination.
The Exchange noted that clearer policy direction, stronger corporate earnings, and rising participation by both local and foreign investors have deepened liquidity and strengthened market resilience.
It said the rally reflects growing confidence in Nigeria’s investment environment and the Exchange’s long-term development strategy.
The Group added that it will continue working closely with regulators and market stakeholders to attract quality listings across priority sectors, expand retail participation, and deepen market depth.
According to NGX, President Tinubu government is focused on innovation, transparency and inclusive growth to ensure the capital market continues to serve as a catalyst for sustainable economic development.
Strong Market Performance in 2025
President Tinubu highlighted the NGX All-Share Index’s performance in 2025, noting that it delivered a 51.19% return, a significant improvement over the 37.65% recorded in 2024.
He said the rally ranked among the strongest globally, outperforming major indices such as the S&P 500, FTSE 100 and several emerging-market peers.
“The strong performance demonstrates a structural shift in how Nigeria is perceived by investors. The country is no longer a frontier market to be overlooked. Instead, Nigeria is emerging as a compelling investment destination where value is actively being created and unlocked” Tinubu noted.
Instead, he said Nigeria is emerging as a compelling investment destination where value is actively being created and unlocked.
Reforms, earnings and macro stability drive rally
Tinubu attributed the market’s historic run to a combination of policy reforms and improving economic fundamentals. He cited impressive financial results across listed companies, alongside a growing pipeline of new listings in sectors such as energy, telecommunications, technology and infrastructure, as key drivers of market confidence.
He also pointed to broader macroeconomic improvements, including easing inflationary pressures, a stabilising naira, rising foreign exchange reserves and expanding exports.
According to the President, “these developments have created a more predictable investment climate, encouraging both domestic and international investors to commit long-term capital to Nigeria.”
SEC, market leaders credit policy Direction
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, said the N100 trillion milestone reflects the impact of decisive reforms under President Tinubu’s leadership.
- He noted that improved transparency, fiscal discipline and regulatory certainty have helped restore investor trust and enhance the credibility of Nigeria’s capital market.
- Agama reaffirmed the SEC’s commitment to strong oversight, investor protection and high governance standards to ensure sustained growth and market resilience.
NGX Group Managing Director and Chief Executive Officer, Temi Popoola, also commended the President for providing policy clarity and reform momentum that have bolstered confidence, saying the milestone validates the Exchange’s focus on innovation, market depth and transparency.
What you should know
- The Nigerian capital market closed the year 2025 on a historic high never seen in the long history of the Exchange.
- The NGX All-Share Index (ASI) hit an unprecedented 155,613.03 points while the market capitalisation closed at N99.376 trillion, returning a year-to-date gain of 51.19%.
- President Tinubu said the N100 trillion market capitalisation sends a powerful message to the global investment community that Nigeria’s economy is robust, productive and open for business, expressing confidence that the impact of reforms will translate into even stronger outcomes for the capital market in 2026.
