By Ada Samson, Abuja
President Bola Ahmed Tinubu has declared that Nigeria’s capital market must stand as a “trusted engine of enterprise and prosperity,” as new data suggests it is racing towards an ambitious N300 trillion valuation.
The President made the declaration during a meeting with the leadership of the Nigerian Exchange Group (NGX Group) Plc and the Securities and Exchange Commission (SEC), which took place on Tuesday in Sao Paulo, Brazil, coinciding with his state visit.
The meeting was part of a robust review of the market’s remarkable performance since the start of his administration. President Tinubu commended the “phenomenal rise in market capitalisation and increased trading activity,” which have significantly broadened investment opportunities for both domestic and international investors.
He described the market’s vigorous growth as a clear barometer of growing investor confidence in his government’s economic agenda.
“My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation, so that our economy works for every Nigerian,” President Tinubu affirmed, lauding the NGX Board and SEC leadership for their commitment.
He stressed that such dialogue is vital to achieving the Renewed Hope Agenda’s economic targets and solidifying Nigeria’s position as Africa’s premier investment destination. The President promised continued support for the sector and expressed readiness to implement additional reforms to strengthen and expand it further.
The Director General of the SEC, Dr. Emomotimi Agama, provided a concrete foundation for the optimism, applauding the recent signing of the Investment and Securities Act (ISA) 2025. He described the new legislation as “one of Africa’s most comprehensive legal frameworks for capital markets,” stating confidently that it will propel Nigeria toward its N300 trillion market goal. He emphasised that the Act is designed to ensure equitable wealth distribution through “strong investor protection and regulatory clarity.”
Echoing the positive assessment, the Chairman of NGX Group, Alhaji Umaru Kwairanga, expressed deep gratitude for the President’s “bold reforms.” He revealed that trading volumes and market values have “nearly tripled” since the commencement of the current administration.
To sustain this powerful momentum, he urged the fast-tracking of the listing of major state-owned enterprises, such as NNPC Limited, and the introduction of supportive tax incentives. In a symbolic gesture recognising the market’s achievements, Alhaji Kwairanga formally invited President Tinubu to visit the NGX trading floor in Lagos.
The Group Chief Executive Officer of NGX Group, Temi Popoola, emphasised the strategic importance of positioning Nigeria’s Exchange as a global investment hub. This, he noted, would be achieved through “stronger partnerships, modernised market infrastructure, and deeper product innovation.” He joined the delegation in thanking the President for his policies and highlighted that “expanding retail investor participation through digital channels will promote inclusive and sustainable market growth.”
Adding a private sector perspective, Nonso Okpala, a Director of NGX Group Plc, commended the administration’s reforms for delivering greater “exchange rate stability and macroeconomic predictability.”
He identified these factors as key drivers behind the company’s recent growth and encouraged other large Nigerian businesses to list on the NGX, framing it as a powerful “pathway to democratising wealth and broadening participation” in the nation’s economic success.
The meeting concluded with a shared resolve to continue collaborating to harness the full potential of Nigeria’s financial markets.
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