Nigeria's Stock Market Achieves 228% Growth Under Tinubu

Dele Oye, the former National President of the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA) and current Chairman of the Alliance for Economic Research and Ethics (AERE), emphasized the need for Nigeria to sustain its position as the world's best-performing stock market. He noted that the Nigerian Exchange (NGX) experienced a remarkable 228% growth over three years, with market capitalization rising from approximately N30 trillion in 2023 to N158.3 trillion.

Oye attributed this success to economic reforms initiated by President Bola Ahmed Tinubu's administration, which took office in May 2023 amid a crisis characterized by a collapsing naira and soaring inflation. He acknowledged the immediate challenges posed by reforms such as the removal of fuel subsidies and exchange rate unification but highlighted the importance of policy consistency and investor confidence.

As of August 6, 2026, the NGX All-Share Index reached 245,209 points, marking a significant recovery and positioning Nigeria ahead of global markets.