The Nigerian government has commended corporate Nigeria, citizens, and capital market stakeholders for propelling the Nigerian Exchange (NGX) past the historic N100 trillion market capitalization mark, describing it as a strong indicator of the nation’s economic revival and growth opportunities for micro, small, and medium enterprises (MSMEs).
In a statement issued by the Special Adviser on Information and Strategy, Bayo Onanuga, the government described the milestone as a source of inspiration for investors and entrepreneurs operating in Nigeria’s money and capital markets. Stakeholders are urged to deepen their participation in the local economy, with promises of stronger returns in 2026 as ongoing economic reforms take full effect.
“With the Nigerian Exchange crossing N100 trillion in market capitalization, the country is witnessing the birth of a new economic reality and rejuvenation,” the statement noted, highlighting that the NGX All-Share Index delivered a 51.19 percent return in 2025, outperforming 2024’s 37.65 percent growth and surpassing international benchmarks such as the S&P 500 and FTSE 100.
The government emphasized that Nigeria is no longer a frontier market to be overlooked. The stock market’s performance reflects investor confidence and signals opportunities for businesses of all sizes, including MSMEs, to tap into expanding value chains and investment flows.
Key sectors driving the growth include blue-chip industrials, banks with technology-led services, energy firms, telecoms, and infrastructure projects. These sectors are expected to deepen market capitalization and increase public ownership, creating avenues for smaller businesses to engage as suppliers, partners, or investors.
The statement linked the milestone to broader economic reforms that have already delivered measurable results. Inflation declined from a 24-month high of 34.8 percent in December 2024 to 14.45 percent by November 2025, with projections of 12 percent in 2026. Nigeria’s current account surplus hit US$16 billion in 2024, estimated at US$16.94 billion for 2025, and forecasted to reach US$18.81 billion in 2026. Non-oil exports rose 48 percent to N9.2 trillion by the third quarter of 2025, while African exports surged 97 percent and manufacturing output grew 67 percent year-on-year.
Foreign reserves topped US$45 billion, aiding naira stability, and infrastructure development accelerated, including expansions in rail networks, major roads such as Lagos-Calabar and Sokoto-Badagry superhighways, revitalized ports, improved healthcare delivery, and educational investments through NELFUND and research grants.
The government noted that the N100 trillion milestone represents not just a number, but an opportunity for businesses, especially MSMEs, to access capital, build partnerships, and scale operations in a thriving economic ecosystem.
“Nation-building is a process, not a destination. Hard work, sacrifices, and the focus of citizens build a nation. The N100 trillion market capitalization signals that the Nigerian economy is robust and productive,” the statement said. “As your government, we will continue to pursue policies that foster growth, inclusivity, and transparent opportunities for all, including MSMEs, supported by historic tax and fiscal reforms fully implemented from January 1.”
