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STATEHOUSE PRESS RELEASE
PRESIDENT TINUBU HOSTS NGX GROUP BOARD AND SEC DIRECTOR-GENERAL IN BRAZIL, INVITED TO NGX TRADING FLOOR
President Bola Ahmed Tinubu has commended Nigeria’s capital market's remarkable growth since he assumed office over two years ago.
He noted the phenomenal rise in market capitalisation and increased trading activity, which have broadened investment opportunities for Nigerians and international investors.
President Tinubu spoke on Tuesday when he received the Director-General of the Securities and Exchange Commission (SEC) and the Board of Directors of Nigerian Exchange Group Plc during his state visit to Brazil.
He described the market’s performance as a clear reflection of investor confidence in his administration's reforms and bold economic measures.
“Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation, so that our economy works for every Nigerian,” President Tinubu said.
President Tinubu lauded the NGX Board and SEC leadership for their commitment, affirming his administration’s unwavering resolve to elevate Nigeria’s financial ecosystem.
He stressed that this dialogue is vital to achieving the Renewed Hope Agenda’s economic targets and positioning Nigeria as Africa’s premier investment destination.
The President promised to continue supporting the capital market and was ready to implement additional reforms to strengthen and expand the sector.
SEC Director-General Dr. Emomotimi Agama applauded the recent signing of the Investment and Securities Act (ISA) 2025 and described it as one of Africa’s most comprehensive legal frameworks for capital markets.
He stated that the Act will propel Nigeria toward a ₦300 trillion market while ensuring equitable wealth distribution through strong investor protection and regulatory clarity.
NGX Group Chairman, Alhaji Umaru Kwairanga, expressed gratitude for the President’s bold reforms, noting that trading volumes and market values have nearly tripled since the commencement of the current administration.
He urged the fast-tracking of the listing of major state-owned enterprises, such as NNPC Limited, and the introduction of tax incentives to sustain this momentum. He also invited the President to visit the NGX trading floor to recognise these achievements.
Temi Popoola, Group CEO of NGX Group, emphasised the importance of positioning Nigeria’s Exchange as a global investment hub through stronger partnerships, modernised market infrastructure, and deeper product innovation. He joined the delegation in thanking the President for his bold reforms. Furthermore, he emphasised that expanding retail investor participation through digital channels will promote inclusive and sustainable market growth.
Nonso Okpala, Director NGX Group Plc, commended the administration’s reforms, citing exchange rate stability and macroeconomic predictability under the Renewed Hope Agenda as drivers of the company’s growth. He encouraged other Nigerian businesses to list on NGX as a pathway to democratising wealth and broadening participation.
Bayo Onanuga
Special Adviser to the President
(Information and Strategy)
August 26, 2025
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