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President Tinubu Praises NGX’s ₦100 Trillion Feat, Advocates Stronger Domestic Investment Culture

Published

4 months ago

January 9, 2026

Joel Ajayi

President Bola Tinubu has praised corporate Nigeria, citizens, and other stakeholders in the Nigerian capital market for surpassing the N100 trillion milestone on the Nigerian Exchange (NGX).
In a statement issued on Thursday by Special Adviser to the President (Information & Strategy)Bayo Onanuga, President Tinubu described this record achievement as an inspiration for the investing public operating in the money and capital markets.

He urged Nigerians to deepen their investments in the local economy, assuring that 2026 will yield even greater returns as his administration’s economic reforms continue to deliver stronger outcomes.

“With the Nigerian Exchange (NGX) crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation.

“In 2025, while many of the world’s markets struggled with stagnation or tepid recovery, the NGX All-Share Index was on the ascent. It closed 2025 with a 51.19% return, higher than the 37.65% recorded in 2024. This performance ranks among the highest in the world. Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group.

“Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered. As the stock market reflects the entire economy, its stellar performance is a significant indicator of the country’s economic health and the confidence investors have in our economy

“On the NGX, we have witnessed remarkable performances from listed companies across all sectors. From blue-chip industrial giants that have localised their supply chains, to a banking sector that has demonstrated resilience and technological innovation, Nigerian companies are proving that the country can deliver strong returns on investment.

“And we are just getting started. The pipeline for new and upcoming listings looks robust. More indigenous energy firms, tech unicorns, telecoms, and infrastructure-heavy entities are seeking to access the public market to fund their expansion. As these firms are listed, they will boost market capitalisation and deepen democratic ownership of the Nigerian economy.

“We are not celebrating the superlative stock market performance in isolation. We are also celebrating the microeconomic effects of our reforms. After the initial headwinds that followed our reforms, we are finally seeing a bend in the inflation curve. Crucial monetary tightening and the removal of distortionary ‘Ways and Means’ financing have restored stability to the Naira. Furthermore, investments in the agriculture sector have contributed to a consistent decline in inflation over the past eight months. From a 24-month high of 34.8% in December 2024, inflation decelerated to 14.45% as of November 2025,

November 2025, with projections indicating it will reach 12% in 2026. Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians.

“Also noteworthy is the status of our nation’s current account, a valid measure of our overall economic health. In 2024, Nigeria posted a surplus of $16 billion. According to the Central Bank of Nigeria (CBN), our current account balance is projected to rise to $18.81 billion in 2026, up from $16.94 billion in 2025.

“Under our administration, Nigeria is exporting more and importing less of what we can produce locally. Non-oil exports surged by 48% by the third quarter of 2025, totalling N9.2 trillion. Exports to Africa alone rose by 97% to N4.9 trillion. Manufacturing exports increased by 67% year-on-year in the second quarter of 2025, suggesting a strong close to the year.

“Nigeria’s foreign reserves have crossed the $45 billion mark, giving the Central Bank the firepower to maintain stability. The Naira has stabilised, moving away from the volatility that once fuelled speculation. The Central Bank of Nigeria, in its latest outlook, projects foreign reserves will cross the $50 billion threshold in the first quarter of 2026.

“We are also seeing an expansion of the rail networks, the completion of major arterial roads and the revitalisation of our ports. With the transformative Lagos-Calabar, Sokoto-Badagry superhighways” the nation’s infrastructure is growing.
“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund (NELFUND), and universities are receiving increased research grants.

“Nation-building is a process, not a destination. Hard work, sacrifices, and the focus of its citizens build a nation. The N100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust and productive.

“As your leader, I pledge to continue working unrelentingly to build an egalitarian, transparent, and high-growth economy that will be further catalysed by the historic tax and fiscal reforms that came into full implementation from January 1,” President Tinubu said.

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FG Commits To National Development With Major Contract Agreements — Umahi

Published

16 hours ago

May 14, 2026

The Gleamer

Joel Ajayi

The Federal Government, through the Federal Ministry of Works, has again signed landmark contract agreements with four (4) construction firms to execute critical road projects across the country, in line with the Renewed Hope Agenda of the administration of President Bola Ahmed Tinubu, GCFR. The contract signing ceremony, held on Thursday at the Ministry’s Headquarters in Mabushi, Abuja, marks another major step in the Federal Government’s commitment to delivering durable, sustainable road infrastructure that enhances connectivity, stimulates economic growth, and improves the quality of life of Nigerians.

The four contractors and their respective projects are as follows:

1. Messrs J. Patel and Sons Nigeria Limited – Reconstruction of Mando (Kaduna) – Birnin Gwari Road in Kaduna State,

2. Messrs JRB Construction Company Limited – Dualisation of Ibadan–Ijebu Ode Road in Oyo and Ogun States,

3. Messrs Truecrete Solutions Limited – Construction of Osogbo–Ikirun–Akoda Road in Osun State and

4. Messrs Peculiar Ultimate Concerns Limited – Construction of Osogbo–Iwo–Ibadan Road in Osun and Oyo States.

Speaking during the event, the Honourable Minister of Works, Engr. David Umahi, CON, FNSE, FNATE, described the projects as strategic national infrastructure designed to boost economic activities, improve transportation efficiency, and strengthen national integration. He noted that the reconstruction of the Mando (Kaduna) –Birnin Gwari Road in Kaduna State holds special significance, as it was one of the key infrastructure development commitments made by His Excellency, President Tinubu during the 2022/2023 electioneering campaigns. According to the Minister, the present administration remains resolute in its determination to deliver world-class infrastructure that will stand the test of time. “Our vision is to build roads that will last for generations. Under the Renewed Hope administration, we are determined to deliver infrastructure that can serve Nigerians for up to 100 years through the adoption of rigid pavement (concrete) technology,” Umahi stated.

The Minister commended the selected contractors for their competence, track records, and proven capacity, emphasising the Federal Government’s confidence in indigenous contractors. He particularly praised Messrs JRB Construction Company Limited, Truecrete Solutions Limited, and other indigenous firms for their commendable performances on previous projects across the country.

Umahi charged all contractors to mobilise to their respective project sites immediately and commence work without delay, stressing that the Ministry expects measurable progress within the stipulated timelines.

Earlier in his remarks, the Permanent Secretary, Mr. Rafiu Olarinre Adeladan, who formally signed the contract agreements, described the occasion as the successful completion of the procurement process and the official commencement of project implementation.

He commended the leadership of the Ministry for its commitment to ensuring that projects reached the execution stage and reaffirmed the Ministry’s dedication to effective monitoring, quality assurance, and timely delivery.

Also speaking, the Director of Highways, Construction and Rehabilitation, Mr. Clement Ogbuagu, presented details of the awarded contracts as follows:

1. Reconstruction of Mando–Birnin Gwari Road, Kaduna State

Contractor: Messrs J. Patel and Sons Nigeria Limited

Contract Sum: ₦178,116,787,162.00

Length: 122 Kilometres

2. Dualisation of Ibadan–Ijebu Ode Road, Oyo and Ogun States

Contractor: JRB Construction Company Limited,

Contract Sum: ₦295,996,609,992.77

Length: 114.5 Kilometres (Single Carriageway Equivalent)

3. Construction of Osogbo–Ikirun–Akoda Road, Osun State

Contractor: Truecrete Solutions Limited

Contract Sum: ₦101,806,585,825.90

Length: 70 Kilometres (Single Carriageway Equivalent) and

4. Construction of Osogbo–Iwo–Ibadan Road, Osun State

Contractor: Peculiar Ultimate Concerns Limited

Contract Sum: ₦114,854,477,607.93

Length: 73 Kilometres

All the projects will be executed using Continuously Reinforced Concrete Pavement (CRCP) technology, in line with the Federal Government’s commitment to building durable, cost-effective, and sustainable road infrastructure nationwide.

The ceremony represents another significant milestone in the Federal Government’s drive to modernise Nigeria’s road network and accelerate national economic development.

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