From Juliana Taiwo-Obalonye, Brasília, Brazil
President Bola Tinubu has praised the performance of Nigeria’s capital market, describing its rapid expansion over the past two years as a reflection of growing investor confidence in his administration’s reforms.
Speaking in Brazil on Tuesday, August 26, during his state visit, the President held discussions with the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, and the Board of Directors of the Nigerian Exchange Group (NGX) Plc.
The meeting, which took place on the sidelines of President Tinubu’s engagements in Brazil, reflects the government’s effort to align with the private sector in advancing Nigeria’s financial markets.
He noted that market capitalisation and trading volumes have surged since 2023, opening up new investment opportunities for Nigerians and international investors alike.
“Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation, so that our economy works for every Nigerian,” he said.
According to a statement issued by Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu assured the delegation of his administration’s commitment to strengthening the financial sector, noting that engagement with market operators was critical to achieving the Renewed Hope Agenda’s economic goals and positioning Nigeria as Africa’s leading investment destination.
Agama, on his part, hailed the recent signing of the Investment and Securities Act (ISA) 2025, describing it as one of the continent’s most comprehensive frameworks. He projected that the law would help propel the market towards a ₦300 trillion benchmark while safeguarding investors and enhancing transparency.
The NGX Chairman, Umaru Kwairanga, said trading activity on the Exchange had nearly tripled since Tinubu assumed office. He called for faster listing of state-owned enterprises such as NNPC Limited and advocated for tax incentives to sustain the momentum.
He also invited the President to visit the Exchange’s trading floor to highlight the achievements.
The Group CEO of the NGX, Temi Popoola, emphasised the importance of strengthening Nigeria’s position as a global investment hub through partnerships, technological upgrades, and innovative products. He also underscored the need to expand retail investor participation by leveraging digital platforms.
Another NGX Board Director, Nonso Okpala, commended the stability of exchange rates and improvements in macroeconomic conditions under the Renewed Hope Agenda, describing these as key drivers of growth. He urged more Nigerian companies to pursue stock market listings as a means of expanding wealth creation and broadening economic participation.
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