From 2023 to mid-2025, Nigeria’s capital market has seen robust equity performance, rising capital formation, and increased foreign investment, driven by structural reforms under Tinubu’s Renewed Hope Agenda. “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,” Tinubu stated, as reported by his Special Adviser on Information and Strategy, Bayo Onanuga.
The recently signed Investment and Securities Act (ISA) 2025 was praised by Agama as one of Africa’s most comprehensive legal frameworks for capital markets, poised to propel Nigeria toward a N300 trillion market while ensuring investor protection and regulatory clarity. NGX Group Chairman Umaru Kwairanga noted that trading volumes and market values have nearly tripled since 2023, urging the listing of major state-owned enterprises like NNPC Limited and the introduction of tax incentives to sustain growth.
Group CEO Temi Popoola emphasized the need for stronger partnerships, modernized infrastructure, and innovative products to position NGX as a global investment hub, while advocating for expanded retail investor participation through digital channels. NGX Group Director Nonso Okpala credited exchange rate stability and macroeconomic predictability for the market’s success, encouraging more Nigerian businesses to list on NGX to democratize wealth and broaden economic participation.
Tinubu reaffirmed his commitment to further reforms to strengthen Nigeria’s financial ecosystem, positioning the country as Africa’s premier investment destination.