Tinubu's Reforms Propel NGX Market Capitalisation to N150 Trillion
Under President Bola Tinubu, the Nigerian Exchange Group (NGX) saw market capitalisation surge from N30 trillion in May 2023 to over N150 trillion. This growth is attributed to reforms such as fuel subsidy removal and foreign exchange adjustments, which are projected to increase market capitalisation to N230 trillion by 2026.
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The Nigerian Exchange Group (NGX) reported a rise in market capitalisation from N30 trillion in May 2023 to over N150 trillion. Key reforms under President Bola Tinubu, such as the removal of fuel subsidies and foreign exchange reforms, are driving this growth.
The NGX projects the market capitalisation may reach N230 trillion by the end of 2026, influenced by anticipated significant listings like the Dangote Refinery. The reforms have reportedly created between 500,000 to 900,000 new millionaires and increased earnings for numerous listed companies.
NGX urged the government to accelerate privatisation of assets, including stakes in Nigeria LNG and Indorama, to further stimulate market growth. Sustained investor confidence and an enabling regulatory environment are essential for maintaining this upward trajectory.
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