Investors' Confidence Soars as Tinubu’s Reforms Lift Nigerian Market by N643 Billion - Presidency

The Presidency says Nigeria’s capital market has recorded a major boost, with a ₦643 billion gain on the Nigeria Stock Exchange (NSE), as President Bola Ahmed Tinubu’s sweeping economic reforms continue to strengthen investor confidence and market momentum.

In a statement posted on its official X handle, the Presidency noted that the surge, recorded on Wednesday, underscores the growing impact of the President’s policy decisions on Nigeria’s financial markets and the broader economy.

“At the heart of these reforms is a decisive break from longstanding economic distortion,” the statement read. “The removal of petrol and electricity subsidies and the unification of Nigeria’s multiple exchange rates into a single, market-driven rate have helped stabilize public finances and attract both local and foreign investment.”

The Presidency said these measures, while challenging in the short term, have boosted revenue allocations to states through the Federation Account Allocation Committee (FAAC) and placed the country on a path toward fiscal sustainability.

Investor sentiment has also been buoyed by the Central Bank of Nigeria’s recapitalization directive to commercial banks. According to the Presidency, leading financial institutions such as GTCO and Zenith Bank have recorded significant growth in market capitalization, with over ₦3.7 trillion in combined value added.

With the Monetary Policy Rate currently at 27.5 percent, Nigerian equities and bonds have become increasingly attractive to yield-seeking investors, further fueling market gains.

The Presidency concluded that the latest rally is “a clear signal that Nigeria’s economy is on a trajectory of recovery and sustainable growth, driven by decisive leadership and bold reforms.”