Invest more locally, Tinubu encourages Nigerians, praises NGX for N100trn milestone

Says Foreign Reserves reach $45bn, CBN projects $50bn by Q3 2026

’National Account surplus grows from $16bn in 2024 to $18.81bn’

By Mathew Brangyet

President Bola Tinubu has commended corporate Nigeria, citizens, and other stakeholders in the Nigerian capital market for surpassing the N100 trillion milestone on the Nigerian Exchange (NGX).

He has urged Nigerians to increase their investments in the local economy.

In a statement on Thursday by his Special Adviser on Information and Strategy, Bayo Onanugu, Tinubu described this significant achievement as an inspiration for investors in the money and capital markets.

The President emphasised that the year 2026 is expected to yield even greater returns as his administration continues to implement economic reforms aimed at producing stronger outcomes.

“With the Nigerian Exchange (NGX) reaching the historic N100 trillion market capitalisation mark, the country is witnessing the emergence of a new economic reality,” he stated.

“In 2025, while many global markets struggled with stagnation or slow recovery, the NGX All-Share Index experienced substantial growth. It closed 2025 with a remarkable 51.19% return, exceeding the 37.65% recorded in 2024.”

“This performance positions Nigeria among the top performers worldwide. Year-to-date returns have significantly outpaced those of the S&P 500, the FTSE 100, and even many emerging-market peers in the BRICS+ group.”

“Nigeria is no longer a frontier market to be overlooked; it is now a compelling destination where value is being uncovered. The stock market reflects the overall economy. Its impressive performance serves as a vital indicator of the nation’s economic health and the confidence that investors have in our economy.”

“On the NGX, we have seen impressive results from listed companies across various sectors. From blue-chip industrial giants that are localising their supply chains to a banking sector showing resilience and technological innovation, Nigerian companies are demonstrating that the country can deliver strong returns on investment.”

“We are just getting started. The pipeline for new and upcoming listings appears robust. More domestic energy firms, tech unicorns, telecommunications companies, and infrastructure-heavy entities are looking to access the public market to fund their expansion. As these companies are listed, they will enhance market capitalisation and promote wider ownership of the Nigerian economy.”

“We do not view the impressive performance of the stock market in isolation. We are also acknowledging the microeconomic effects of our reforms. Following the initial challenges encountered after our reforms, we are finally seeing a shift in the inflation trend.”

“Crucial monetary tightening and the elimination of distortionary ‘Ways and Means’ financing have restored stability to the Naira.

“Additionally, investments in the agriculture sector have contributed to a consistent decline in inflation over the past eight months. From a 24-month high of 34.8% in December 2024, inflation has decreased to 14.45% as of November 2025, with projections indicating it may reach 12% in 2026.”

“Indeed, inflation is likely to fall below 10% before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 holds great promise for delivering prosperity to all Nigerians.”

“Also noteworthy is the status of our nation’s current account, which is an essential measure of overall economic health. In 2024, Nigeria reported a surplus of $16 billion.

According to the Central Bank of Nigeria (CBN), our current account balance is projected to rise to $18.81 billion in 2026, up from $16.94 billion in 2025.”

“Under our administration, Nigeria is exporting more and importing less of what we can produce domestically. Non-oil exports surged by 48% by the third quarter of 2025, totalling N9.2 trillion. Exports to Africa increased by 97% to N4.9 trillion. Manufacturing exports rose by 67% year-on-year in the second quarter of 2025, indicating a strong finish to the year.”

“Nigeria’s foreign reserves have surpassed the $45 billion mark, equipping the Central Bank with the resources to maintain stability. The Naira has stabilised, moving past the volatility that once fueled speculation. The Central Bank’s latest outlook projects foreign reserves will exceed $50 billion by the first quarter of 2026.”

“We are also witnessing expansion in railway networks, the completion of major highways, and the revitalisation of our ports. Infrastructure is growing with transformative projects like the Lagos-Calabar and Sokoto-Badagry superhighways.”

“Our healthcare facilities are improving, and the costs associated with medical tourism are decreasing. Students are benefiting from the Nigeria Education Loan Fund (NELFUND), and universities are receiving increased research grants.”

“Nation-building is a process, not a destination. Hard work, sacrifices, and the commitment of its citizens can build a nation. The N100 trillion market capitalisation is a clear signal to the world that the Nigerian economy is on an upward trajectory.”