NGX market value surges to N160 trillion

President Bola Tinubu received the Board and Management of the Nigerian Exchange Group at the State House in Abuja, where they reported that the market capitalization of the Nigerian Exchange had surged from about N30 trillion in 2023 to N160 trillion, with projections to reach N230 trillion by year-end. The All-Share Index climbed from 52,000 to over 244,000 points, and an estimated 500,000 to 900,000 millionaires were created. Tinubu commended his Economic Management Team, including Finance Minister Taiwo Oyedele, Budget Minister Abubakar Atiku Bagudu, CBN Governor Yemi Cardoso, and NRS Chairman Zacch Adedeji, for the reforms that drove the rebound. He also announced plans to reform and list the NNPC on the capital market. NGX Group reported record H1 2026 results, with revenue doubling to N17.6 billion and profit before tax rising 170% to N14.76 billion, leading to an interim dividend of N1.30 per share. The Presidency attributed strong corporate earnings to Tinubu's reforms, including foreign exchange unification, banking recapitalization, and subsidy removal, which benefited companies like Aradel Holdings, Seplat Energy, Dangote Cement, and BUA Cement.