The Tinubu Media Support Group (TMSG) has described the sustained growth of Nigeria’s stock market as a strong indication that the country’s economy is stabilising and gaining investor confidence under President Bola Ahmed Tinubu.
The group noted that the market capitalisation of the Nigerian stock market, which stood at about N30 trillion when President Tinubu assumed office in May 2023, has risen to over N155 trillion as of August 2026.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the TMSG said the significant expansion of the equities market was a verifiable indication that the economic reforms of the Tinubu administration were producing positive results.
The group argued that increased market capitalisation reflects growing confidence among local and foreign investors, who it said would not commit substantial funds to an economy they considered fundamentally unstable.
“If there is any indication of a growing private sector-driven economy, it is the way and manner by which the Nigerian stock market has grown exponentially since President Bola Tinubu assumed office,” the group said.
TMSG maintained that the rise from about N30 trillion in market capitalisation to more than N155 trillion represented a remarkable growth trajectory which, in its view, could not be disconnected from the economic reforms introduced by the Tinubu administration.
It said the development was also an indication that investors were responding positively to efforts aimed at restoring stability and confidence in the Nigerian economy.
According to the group, the performance of the stock market is creating wealth for investors, while the expansion of profitable businesses could support employment across sectors, particularly manufacturing, energy, consumer goods and banking.
TMSG also cited data from the management of the Nigerian Exchange indicating that the growth of the equities market had created between 500,000 and 900,000 millionaires among Nigerians who invested in shares and stocks.
The group, however, acknowledged that small businesses were yet to record growth at the same pace as the stock market, but said reforms such as tax exemptions introduced by the Tinubu administration were beginning to ease the burden on small business owners.
It expressed optimism that continued economic stability would eventually translate into improved living conditions and greater opportunities for Nigerians, particularly those at the lower end of the economic ladder.
TMSG further argued that a more stable economy would attract additional investments, stimulate growth in the real sector and strengthen the private sector’s contribution to national development.
The group therefore urged Nigerians to disregard what it described as attempts to undermine the positive impact of the Tinubu administration’s economic policies, insisting that the country’s economic trajectory had turned a corner.
