NGX CEO Temi Popoola: Nigeria’s Capital Market Sees Global Re-Rating Amid Renewed Investor Confidence

Nigeria’s capital market is experiencing a notable global re-rating, as international investors increasingly reassess the country’s economic prospects and investment potential, according to Temi Popoola, Group Managing Director and Chief Executive Officer of the Nigerian Exchange Group (NGX Group).
Speaking during a live interview on BBC Newsday in London, Popoola highlighted that strong equity market performance, improved policy clarity, and structural reforms are reshaping how Nigeria is perceived in the global investment landscape. The interview coincided with President Bola Tinubu’s state visit to the United Kingdom, which has attracted significant attention from foreign investors and business leaders.
“What we are seeing is a gradual re-rating of Nigeria. Investors are beginning to scrutinize the data more closely — the returns, the reforms, and the improving macroeconomic trajectory — and this is changing sentiment toward the country,” Popoola said.
He noted that Nigeria’s equities market has delivered robust returns in recent months, placing it in a stronger position among emerging and frontier markets. According to Popoola, these positive trends are helping to recalibrate long-held risk perceptions and attract renewed interest from international investors seeking diversified investment opportunities.
Beyond market performance, Popoola highlighted the role of Nigeria’s energy sector reforms in strengthening investor confidence. He explained that increased domestic refining capacity and ongoing sector reforms are helping to reduce the economy’s vulnerability to global oil price fluctuations, further enhancing Nigeria’s investment appeal.
“Global capital responds to clarity and consistency. As these elements become more evident, Nigeria naturally becomes more investable,” Popoola said. He emphasized that sustained policy implementation, coupled with transparent regulatory frameworks, will be critical in maintaining this positive momentum.
Popoola also stressed the importance of continued engagement with international financial hubs such as London. These platforms, he noted, play a pivotal role in connecting Nigeria’s capital markets to global pools of capital and facilitating foreign investment inflows.
He further observed that Nigeria’s evolving market structure, combined with regulatory reforms, positions the country as an attractive destination for long-term investors. “There is a broader recognition that Nigeria offers significant opportunities. The focus now is ensuring that this recognition translates into sustained capital flows,” Popoola added.
Financial analysts have noted that the NGX’s performance is part of a broader trend in emerging markets, where improved macroeconomic indicators, coupled with structural reforms, are helping countries reposition themselves to attract global investors.
“Investors are looking beyond short-term fluctuations. They are evaluating fundamentals, governance, and structural reforms, all of which Nigeria is beginning to demonstrate,” said an investment analyst who requested anonymity.
Popoola concluded by underscoring that Nigeria’s capital market is increasingly being viewed through a data-driven lens, reflecting both its resilience and long-term growth potential. This evolving perception could pave the way for stronger international capital inflows, higher market liquidity, and a more competitive position for Nigeria among emerging economies.
With these developments, experts predict that Nigeria’s capital market may experience sustained growth, bolstered by continued policy clarity, infrastructure investments, and sectoral reforms that make the market increasingly attractive to global investors.
NGX CEO Temi Popoola says Nigeria’s capital market is being re-rated globally, driven by strong equity returns, policy clarity, and energy sector reforms, attracting renewed international investor interest.
Nigeria’s capital market is gaining renewed global attention as strong equity performance, structural reforms, and policy clarity boost investor confidence, says NGX CEO Temi Popoola.