Tinubu’s Pro-Business Policies Fuel Capital Market Surge, Says TMSG

The Tinubu Media Support Group (TMSG) has lauded the Nigerian Stock Exchange (NSE) as a primary beneficiary of President Bola Tinubu administration’s ongoing financial re-engineering efforts.

According to the group, the stock market has experienced an unprecedented boom in just 27 months, driven by pro-business policies that have stimulated significant investor interest.

In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG highlighted the dramatic increase in the All-Share Index (ASI), which stood at 52,973.88 points in May 2023 but closed at 140,295.50 points in August 2025.

“The nearly threefold increase in the Nigerian Stock Exchange’s All-Share Index (ASI) since President Bola Tinubu assumed office is no accident,” the group stated.

“Data reveals that the ASI closed at 52,973.88 points on Friday, May 26, 2023, with a market capitalization of N28.845 trillion. By the close of trading on Friday, August 30, 2025, the ASI had reached 140,295.50 points, and market capitalization had soared to N90 trillion.”

“This represents a significant leap in stock market activity, which analysts widely attribute to the Tinubu administration’s economic reforms.”

“This perspective aligns with the recent comments from Mr. Umaru Kwairanga, Chairman of the Nigeria Exchange (NGX) Group, who stated that the Tinubu reforms have led to a ‘tripling of volumes and value of transactions in the capital market within two years.’”

“We fully support this assessment, especially since the increased trading volume on the stock market is largely a result of renewed investor confidence stemming from the government’s pro-business approach.”

TSMG further elaborated on how government policies have stimulated activity in the capital market.

“The removal of fuel subsidies, the harmonization of foreign exchange windows, and reforms within the oil sector have collectively attracted new investments into the country,” the statement noted.

“Furthermore, the recent presidential assent to the Nigerian Insurance Industry Reform Act (NIIRA Act 2025), which consolidates outdated insurance laws into a single framework, has added fresh impetus to the market.”

“This new law, designed to enhance efficiency within the insurance industry and enforce compulsory insurance policies for better consumer protection, has already boosted the stock of listed insurance firms within days of the President’s approval.”

“Adding to this positive momentum is the Investment & Securities Act (ISA) 2025, which key private sector stakeholders have lauded as one of the most comprehensive capital market laws globally.”

“We are confident that the Nigerian Stock Exchange will be further strengthened in the coming months with the anticipated listing of the Nigerian National Petroleum Company Limited (NNPCL) and the implementation of the newly enacted tax laws.”

“In our opinion, all of these factors will collectively accelerate the President Tinubu administration’s goal of achieving a $1 trillion economy by 2030 and beyond,” the statement concluded.

The group emphasised that the unprecedented surge in the capital market demonstrates Nigeria’s readiness for significant business growth under President Tinubu’s leadership.