ABUJA: President Bola Tinubu has described the remarkable growth of Nigeria’s capital market as a strong vote of confidence in his administration’s sweeping economic reforms.
Speaking in Brazil on Tuesday during a meeting with the Director-General of the Securities and Exchange Commission SEC, Dr Emomotimi Agama, and the Board of the Nigerian Exchange Group NGX, Tinubu said the performance of the capital market underscores the resilience of the Nigerian economy under the Renewed Hope Agenda.
In a statement released by presidential spokesman Bayo Onanuga on Wednesday, the President highlighted the sharp rise in market capitalisation and trading activities as evidence of renewed investor trust.
He reiterated his government’s commitment to reforms that expand access to capital, guarantee investor safety, and stimulate innovation.
“Our markets must remain a trusted driver of enterprise and prosperity. We will continue to push reforms that unlock capital, protect investors, and ensure our economy works for every Nigerian”, Tinubu said.
The President applauded the NGX Board and SEC leadership for steering the market on a growth trajectory, stressing that collaboration between regulators, operators, and government was crucial to consolidating recent gains and positioning Nigeria as Africa’s premier investment destination. He also pledged to boost liquidity, widen opportunities, and reinforce safeguards for investors in order to maintain global competitiveness.
SEC boss Agama described the signing of the Investment and Securities Act ISA 2025 as a landmark reform, noting that it provides one of Africa’s most comprehensive legal frameworks for capital markets.
He projected the law could drive Nigeria toward a N300 trillion market size, offering stronger investor protection, regulatory clarity, and more equitable wealth distribution.
Similarly, NGX Group Chairman, Alhaji Umaru Kwairanga, attributed the near tripling of market activity in two years to the government’s “bold and decisive reforms.”
He called on the administration to accelerate the listing of major state-owned enterprises, including NNPC Limited, while introducing tax incentives to sustain investor interest. He also extended an invitation to Tinubu to ring the opening bell on the NGX trading floor in recognition of the market’s transformation.
Group CEO of NGX, Temi Popoola, reaffirmed the Exchange’s ambition to become a global hub by modernising infrastructure, diversifying products, and strengthening international partnerships. He noted that increased retail participation through digital platforms was key to inclusive market growth.
Also, NGX Group Director, Nonso Okpala, credited the administration’s reforms for stabilising the exchange rate and improving economic predictability, factors which, he said, were driving more businesses to list publicly and spread wealth across a wider spectrum of Nigerians.
