Tinubu hails NGX leaders as market cap hits N158tn, foreign investment surges sevenfold
President Bola Tinubu
Abdullateef Fowewe
President Bola Tinubu has hosted leaders of the Nigerian Exchange Group (NGX) late Thursday at the Presidential Villa, Abuja, lauding their stewardship of Nigeria’s premier capital market institution and linking its recent performance to his administration’s economic reforms.
In a post on his verified X (formerly Twitter) handle, Tinubu said the meeting with NGX Chairman Alhaji (Dr.) Umaru Kwairanga, Group Managing Director/CEO Temi Popoola, and other board and management officials underscored the role of the exchange in “supporting Nigerian enterprise and capital formation for over six decades.”
The president credited the administration’s reform agenda with driving key market indicators, citing a rise in market capitalisation to more than ₦158 trillion and a near sevenfold increase in foreign portfolio investment to ₦1.28 trillion since he assumed office.
He also highlighted global recognition of the NGX’s performance, noting that “in the first half of this year, the Nigerian Exchange ranked among the world’s best-performing equity markets,” a feat he attributed to “discipline, consistency and the resolve to pursue reforms in the long-term interest of our country.”
Framing the market’s growth in terms of everyday impact, Tinubu said the reforms should translate into easier access to finance for manufacturers and entrepreneurs, and better returns for pension holders invested in the capital market.
“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.
“Millions of Nigerian workers whose pensions are invested in our capital market hold a share of this growth and should benefit from the value being created. That is how economic progress becomes personal for every Nigerian,” the president added.
Tinubu concluded his thread with an open invitation to global partners, stating, “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.”
