President Bola Tinubu met with the leadership of the Nigerian Exchange Group (NGX) at the State House in Abuja to recognize their contributions toward stabilizing the national economy. During the discussion, the President highlighted that current economic indicators point to a more favorable outlook for the nation.
The NGX delegation, headed by Chairman Dr. Umaru Kwairanga and CEO Temi Popoola, reported that the stock market has experienced substantial expansion, growing from N30 trillion in 2023 to N160 trillion. Popoola further noted that the All-Share Index surged from 52,000 to 244,000 points, potentially creating hundreds of thousands of new investors.
Tinubu credited this growth to his administration’s policy reforms, which he stated are aligned with international standards. He specifically lauded key team members, including Finance Minister Taiwo Oyedele, Budget Minister Atiku Bagudu, CBN Governor Yemi Cardoso, and NRS head Dr. Zacch Adedeji, for their dedication. The President reaffirmed his administration’s target of reaching a $1 trillion economy, supported by private sector investment and the planned listing of the Nigerian National Petroleum Company Limited on the exchange.
Finance Minister Oyedele noted that the capital market is now among the fastest-growing globally and called on regulators to simplify participation for younger Nigerians. Meanwhile, Dr. Adedeji highlighted that fiscal policies like subsidy removal have helped rectify historical economic imbalances. CBN Governor Cardoso concluded that the successful recapitalization of the banking sector has bolstered domestic confidence and will continue to draw further investment into the country.
