NGX Group Backs Nigeria’s $1 Trillion Economy, Says Market Capitalisation Exceeds N160 Trillion
The Nigerian Exchange Group (NGX Group) has reaffirmed its commitment to supporting President Bola Tinubu’s vision of building a $1 trillion economy, disclosing that the Nigerian capital market’s capitalisation has grown from less than N50 trillion to over N160 trillion.
The chairman of the NGX Group, Alhaji Dr. Umaru Kwairanga, speaking at the 2026 Annual Conference and Awards of the Finance and Business Online Publishers (FiBOP), said the growth reflected the impact of economic reforms introduced by the current administration.
The conference, themed “Unlocking Nigeria’s Economic Potential: Taxation, Industry, Insurance, Fintech, Trade and Investment as Catalysts for Nigeria’s $1 Trillion Vision,” brought together stakeholders to examine strategies for accelerating economic growth.
He commended the organisers for selecting a relevant theme and assembling experienced speakers, including the Minister of Finance, Taiwo Oyedele, and the Managing Director and Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf.
According to him, the two economic experts possess the knowledge and experience required to address the challenges and opportunities associated with Nigeria’s economic transformation.
Speaking on the role of the capital market, he said the NGX Group had aligned with the Federal Government’s trillion-dollar economic ambition from the early days of the administration.
He noted that the market’s capitalisation had increased more than threefold, demonstrating the growing opportunities available to investors.
The NGX Chairman maintained that investors who had participated in the Nigerian capital market, particularly equities, over the past three years had benefited from the market’s performance.
He encouraged Nigerians to take advantage of the investment opportunities available through the capital market, stressing that broader participation would help accelerate the country’s economic growth.
He also highlighted the ongoing Nestoil offer, describing it as an opportunity with potential to attract investors beyond Nigeria and across Africa.
According to him, the offer had attracted significant interest, with indications that investor demand exceeded the amount initially targeted.
He said the company intended to prioritise retail investors, adding that the initiative could help broaden participation in the Nigerian capital market.
Despite the size of Nigeria’s population, he observed that fewer than five million Nigerians were investing in equities, underscoring the need to deepen public awareness and encourage greater participation.
He argued that expanding the number of investors would strengthen the capital market’s capacity to mobilise funds for businesses, support economic development and contribute to the achievement of the Federal Government’s $1 trillion GDP target.
Alhaji Dr. Umaru Kwairanga further emphasised the important role of the media in promoting investment awareness and disseminating timely financial information.
He said online publishers had a responsibility to educate the public about developments in the capital market and the opportunities available to individual and institutional investors.
According to him, the speed at which information travels in the digital age gives online media significant influence over public awareness, investor confidence and economic activities.
He urged media practitioners and other stakeholders to work collectively towards achieving the Federal Government’s economic objectives, expressing confidence that Nigeria’s $1 trillion economy target was attainable with sustained reforms, increased investment and broader participation in the capital market.
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