Tinubu Applauds Capital Market Growth During Brazil Meeting

President Bola Tinubu has expressed strong confidence in Nigeria’s capital market, describing its current growth as remarkable and reflective of investor faith in his administration’s economic reforms. The President made these remarks on Tuesday while receiving top officials of Nigeria’s Securities and Exchange Commission (SEC) and the Nigerian Exchange Group (NGX) during his state visit to Brazil.

In what is being seen as both a symbolic and strategic moment, the President met with the Director-General of the SEC, Dr. Emomotimi Agama, as well as the board of directors of NGX Group. The discussion centered around the progress of Nigeria’s financial markets, recent policy reforms, and the collective ambition to deepen investor participation in Africa’s largest economy.

During the meeting, President Tinubu noted that the Nigerian capital market is becoming an increasingly trusted platform for enterprise and prosperity. He attributed its recent strong performance to the wave of reforms initiated since his administration began. According to him, both the rise in market capitalization and the growth in trading volumes are not random spikes but a direct result of purposeful leadership and bold economic strategies.

In his words, “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.”

The President emphasized that his commitment to financial market development goes beyond words. He pledged to support further reforms that would elevate the nation’s economic ecosystem and ensure that the capital market plays an even greater role in delivering on the goals of his Renewed Hope Agenda. For Tinubu, a healthy capital market is essential to building an inclusive economy that gives everyone—from entrepreneurs and small businesses to large institutional investors—a chance to participate and grow.

The significance of the occasion was further underlined by a statement from the State House, dated August 26 and signed by Presidential Adviser Bayo Onanuga. The statement, which was shared on social media early Wednesday morning, highlighted the importance of the President’s engagement with financial sector leaders even while abroad.

One of the key highlights of the meeting was the recent signing of the Investment and Securities Act (ISA) 2025, which has been hailed by stakeholders as a game changer. Dr. Emomotimi Agama, the Director-General of the SEC, commended President Tinubu for pushing through what he described as one of the most comprehensive legal frameworks for capital markets on the African continent. According to him, the ISA 2025 lays the groundwork for a much more robust, investor-friendly capital market that could drive Nigeria toward a projected ₦300 trillion market size.

Dr. Agama explained that this new law provides clarity, reduces regulatory bottlenecks, and enhances investor protection. It also encourages the development of new financial products, supports fintech innovation, and aligns Nigeria’s capital market regulations with international best practices. He described the reforms as foundational in transforming Nigeria’s economy into a modern, innovation-driven market.

Alhaji Umaru Kwairanga, Chairman of NGX Group, also weighed in with optimism. He reported that the exchange has seen trading volumes and overall market value nearly triple since the start of Tinubu’s presidency. Kwairanga noted that these positive trends signal a high level of investor confidence and suggested that more could be achieved if state-owned enterprises, like the Nigerian National Petroleum Company (NNPC) Limited, were fast-tracked for public listings. He described such moves as essential for deepening liquidity, broadening participation, and attracting global investors.

In a gesture that many believe symbolizes growing alignment between the government and the private sector, Kwairanga extended an invitation to President Tinubu to visit the NGX trading floor in Lagos. Such a visit, he said, would demonstrate the President’s support for capital market activities and inspire even more confidence among both local and foreign investors.

Also present at the meeting were other senior NGX executives, including the Chief Executive Officer Temi Popoola and board member Nonso Okpala. Both expressed appreciation for the administration’s economic policies, noting their role in stabilizing Nigeria’s foreign exchange market, encouraging innovation, and restoring investor confidence.

Temi Popoola emphasized how some of the more recent changes—especially those that streamline capital access for companies and reduce regulatory uncertainty—have helped to make the Nigerian Exchange more competitive globally. He mentioned the increasing interest from international investors, particularly from the diaspora, who now see the Nigerian market as both stable and profitable.

Nonso Okpala added that policy consistency and effective implementation have been key. In his view, the capital market has become one of the early beneficiaries of the Renewed Hope Agenda, as reforms are now translating into real-world investor participation and wealth creation opportunities for Nigerians.

As the discussions concluded, the overall mood among those present was one of cautious optimism. While challenges in the broader economy remain—including inflation and unemployment—stakeholders seemed united in their belief that a strong, well-regulated capital market could become a core pillar of Nigeria’s economic resurgence.

For President Tinubu, the engagement in Brazil reflects a broader diplomatic and economic strategy: promoting Nigeria’s investment climate on the world stage, reinforcing ties with global financial leaders, and ensuring that Nigeria is seen as a serious player in global capital markets.

The visit also sends a message to investors local and international that Nigeria is not only open for business but is actively working to create a stable and profitable environment for investment. And if the numbers from the NGX are anything to go by, it appears that the strategy is beginning to yield results.