President Bola Tinubu said on Friday May 29 the Nigerian stock market recorded unprecedented expansion under his administration.
In a nationwide broadcast marking his administration’s three years in office, emphasised that under his watch, the All Share Index (ASI) on the Nigerian Exchange Limited (NGX) rose from 53,000 points in 2023 to 250,000 points in 2026, while market capitalisation surged from N30 trillion to N160 trillion.
President Tinubu also maintained that the economy had stabilised considerably and was beginning to show signs of sustainable recovery.
He cited improvements in public finances, rising investor confidence and strong growth in the capital market as evidence that the reforms were working.
In the oil and gas sector, Tinubu said reforms introduced by his administration had helped restore investor confidence and attract billions of dollars in fresh investments from international oil companies previously reluctant to commit capital to Nigeria.
He noted that the $5 billion NLNG Train 7 project was nearing completion and would significantly expand Nigeria’s liquefied natural gas export capacity.
Also, Tinubu pointed to improvements in domestic refining, saying operational large-scale and modular refineries were helping Nigeria reduce dependence on imported petroleum products and conserving foreign exchange.
