President Bola Ahmed Tinubu has praised corporate Nigeria, investors, and capital market stakeholders for driving the Nigerian Exchange (NGX) past a historic N100 trillion market capitalisation threshold. The President described this achievement as a pivotal moment for the national economy.
A Signal of Economic Rejuvenation
In an official statement released on Thursday, January 8, 2026, President Tinubu declared that crossing this landmark figure signals the birth of a new economic reality for Nigeria. He urged Nigerians to use this development as a springboard to channel more investments into the domestic economy, fostering greater confidence in the nation's money and capital markets.
The President expressed optimism that the year 2026 promises even stronger returns as his administration's economic reforms begin to deliver more robust and sustainable outcomes. He positioned the stock market's performance as a direct reflection of the broader economy's health and investor confidence.
World-Class Performance and Macroeconomic Gains
Tinubu highlighted the NGX's exceptional performance, noting that while many global markets faced stagnation or weak recovery in 2025, the NGX All-Share Index recorded a remarkable 51.19% return. This significantly exceeded the 37.65% gain of 2024 and ranks among the highest globally, outpacing major indices like the S&P 500 and FTSE 100, as well as many emerging-market peers in the BRICS+ group.
He linked the capital market's surge to tangible macroeconomic improvements. Notably, inflation has moderated from a 24-month high of 34.8% in December 2024 to 14.45% by November 2025, with projections pointing to a potential drop to 12% in 2026. Tinubu attributed this to decisive monetary policy, the elimination of distortionary "Ways and Means" financing, and increased agricultural investment.
Other key indicators highlighted include:
- A strong current account surplus, projected by the CBN to rise from $16 billion in 2024 to $18.81 billion in 2026.
- Foreign reserves exceeding $45 billion, with expectations to cross $50 billion in Q1 2026.
- A surge in non-oil exports, which grew by 48% to N9.2 trillion by Q3 2025.
- A 97% jump in exports to Africa, reaching N4.9 trillion.
Sectoral Strength and Future Listings
The President pointed to robust performances across NGX sectors, specifically citing industrial firms with localised supply chains and a resilient banking sector driven by tech innovation. He also revealed a strong pipeline for new public listings, with indigenous energy firms, technology companies, telecoms operators, and infrastructure-heavy entities preparing to access the market to fund expansion.
"As these firms are listed, they will further boost market capitalisation and deepen democratic ownership of the Nigerian economy," Tinubu stated, as communicated by his Special Adviser on Information and Strategy, Bayo Onanuga.
Building on a Foundation of Reform
Emphasising that nation-building is a continuous process, Tinubu framed the N100 trillion milestone as a clear signal to the world that the Nigerian economy is both robust and productive. He pledged to continue working to build an egalitarian, transparent, and high-growth economy, further catalysed by historic tax and fiscal reforms that took full effect from January 1, 2026.
The President also cited progress in infrastructure, healthcare, and education, including expanded rail networks, completed roads, revitalised ports, declining medical tourism costs, and the operational Nigeria Education Loan Fund.
President Tinubu concluded by asserting that Nigeria can no longer be dismissed merely as a frontier market but is now "a compelling destination where value is being discovered."
