Tinubu’s Policies Triple NGX Value, Says President Spokesperson

Nigeria’s stock market has witnessed an unprecedented surge under President Bola Ahmed Tinubu’s administration, with market capitalisation rising by more than 300% since he took office on May 29, 2023.

According to president spokesperson Bayo Onanuga, via his Twitter handle @aonanuga1956, the Nigerian Exchange All-Share Index (NGX-ASI) stood at 52,973.88 points when Tinubu assumed office, with a market value of ₦28.85 trillion. As of Tuesday, August 12, 2025, the benchmark index closed at 146,055.89 points, delivering a year-to-date return of 41.90%, while market capitalisation climbed to ₦92.40 trillion from ₦92.33 trillion in the previous session.

Onanuga noted that leading companies such as Dangote Cement, BUA Foods, MTN, Nestle, Presco, Guinness, Zenith Bank, UBA, and Wema Bank have recorded phenomenal gains, with both local and foreign investors reaping significant rewards.

He attributed the rally to Tinubu’s far-reaching economic reforms, which have bolstered investor confidence and revitalised the market. “The truth is that under President Tinubu’s leadership, the Nigerian stock market is thriving, heralding a new era of prosperity and opportunity for all Nigerian shareholders,” Onanuga stated.

While some political opponents have attempted to downplay the achievement, Onanuga maintained that the numbers speak for themselves, reflecting a period of historic growth for the Nigerian capital market.