Nigerian Capital Market Plays Pivotal Role in Tinubu’s Vision

The Nigerian Exchange Group (NGX) is working tirelessly to support President Bola Tinubu’s vision of achieving a $1 trillion economy by 2030. According to Dr. Umaru Kwairanga, Chairman of NGX, the capital market is being strategically positioned to drive Nigeria’s economic transformation.

As the NGX continues to expand retail access to the Nigerian market, strengthen market oversight, and diversify capital formation, the capital market is playing a crucial role in mobilizing long-term capital, providing transparent investment platforms, and promoting accountability and investor confidence.

Kwairanga highlighted the capital market’s contribution to funding infrastructure projects, such as the recent Federal Government’s seven-year sukuk for road infrastructure, which witnessed huge oversubscription. The NGX is also heavily involved in funding tech companies, promoting innovative ideas and technologies that can drive productivity and GDP growth.

The President’s economic reforms have been instrumental in reigniting investors’ confidence, with Nigeria attracting over $50 billion in foreign direct investment (FDI) commitments since mid-2023. FDI increased from $1.87 billion to $2.6 billion, while foreign portfolio investment through the capital market surged by 126.8% from N174.82 billion in 2023 to N396.41 billion in 2024.

With the capital market playing a vital role in driving Nigeria’s economic ambitions, Kwairanga commended President Tinubu for introducing transformative economic reforms that have enhanced investor protection and strengthened regional trade access through the AfCFTA tariff schedule. The NGX remains committed to supporting the government’s goal of achieving a $1 trillion economy by 2030.