The Nigerian Exchange Group (NGX) has commended President Bola Tinubu for his economic reforms.
Dr Umaru Kwairanga, Group Chairman of NGX, in a statement said the reforms had boosted investor confidence and significantly expanded the Nigerian capital market.
Kwairanga made the remark when he led a delegation of the Group on a courtesy visit to the President at the State House, Abuja, on Tuesday.
Nigeria’s capital market is now one of Africa’s strongest signals of reform, resilience, and opportunity.
In just over two years, our markets have grown stronger, deeper, and more trusted. They are proof that investor confidence is back and that our reforms are working.
In… pic.twitter.com/PH4LDaCH0Z
— Bola Ahmed Tinubu (@officialABAT) August 27, 2025
He explained that the visit was to appreciate the President for his leadership and for policy initiatives that had repositioned the economy.
According to him, reforms in the oil and gas sector, the foreign exchange market, as well as tax policy and administration, had stabilised the economy and attracted both local and foreign investments.
“The results are apparent in our capital market where volumes and value have almost tripled since you took the oath of office as President and Commander-in-Chief two short years ago.
“We are happy and very grateful but, like true Nigerians, we want even more of the good things. That is why we wish to use this opportunity to make some requests,” he said.
The NGX Chairman urged the Federal Government to introduce additional policies to broaden and deepen the market.
He observed that although vibrant, Nigeria’s capital market remained shallow compared with its peers, with a market capitalisation of just one-quarter of GDP, against more than 100 per cent in countries such as South Africa and the United States.
Kwairanga called for the fast-tracking of listings of more state-owned enterprises such as the Nigerian National Petroleum Company (NNPC) Ltd., as well as tax and regulatory incentives for listed companies.
He stressed that this would encourage more private firms to join the market.
He also noted that listed companies were bound to adhere to the highest corporate governance standards and should be rewarded with incentives for their diligence.
The NGX Chairman further extended an invitation to President Tinubu to visit the trading floor of the Exchange at a convenient time to celebrate his achievements, particularly in the area of economic reforms.
Commenting on the visit, President Tinubu, on his official Instagram page (@officialasiwajubat), said:
“Nigeria’s capital market is now one of Africa’s strongest signals of reform, resilience, and opportunity.
“In just over two years, our markets have grown stronger, deeper, and more trusted. They are proof that investor confidence is back and that our reforms are working.
“In Brazil today, I hosted the leadership of the NGX Group, our Securities and Exchange Commission, and capital market operators.
“I assured them of our clear commitment: Nigeria will remain Africa’s premier investment destination, with rules that protect investors and reforms that unlock growth.
“We will continue unlocking capital, protecting investors, and driving innovation so that our economy works for every Nigerian and every investor.”
