Tinubu: Stock market rally shows investor confidence in Nigeria’s economy

President Bola Tinubu has said the sustained rally at the Nigerian Exchange Limited reflects growing investor confidence and signals improving economic health, as the Federal Government unveiled its National Industrial Policy 2025 in Abuja.

Tinubu, who was represented at the event by Vice President Kashim Shettima, described the stock market’s recent performance as evidence of resilience despite ongoing economic challenges.

Tinubu links stock surge to economic reforms

Speaking during the policy launch themed “From productivity to prosperity: Implementing Nigeria’s industrial future,” the president said the rising value of stocks demonstrated renewed optimism about Nigeria’s economy.

He noted that investors were increasingly encouraged by recent economic reforms, stronger corporate earnings, foreign exchange adjustments, and increased participation by institutional and pension fund investors.

Tinubu illustrated the scale of the rally with a personal anecdote, saying a friend expressed surprise after his stock holdings increased by ₦1.7 billion within 24 hours. According to him, such gains reflected the vibrancy of the Nigerian market and the broader economy.

He emphasised that the government’s reforms were aimed at stabilising the economy and positioning Nigeria as a competitive industrial hub capable of attracting both domestic and foreign investment.

The Nigerian equities market has experienced sustained growth over the past year, supported by improved liquidity, investor confidence, and structural reforms designed to strengthen economic fundamentals.

New industrial policy targets manufacturing, jobs

Tinubu said the newly launched National Industrial Policy 2025 would serve as a roadmap for transforming Nigeria’s industrial sector, boosting local production, and creating jobs.

He explained that the policy was developed after extensive consultations and was designed to address long-standing issues such as high production costs, weak infrastructure, fragmented value chains, and policy inconsistencies.

According to him, the policy prioritises value chain development to ensure Nigeria moves beyond exporting raw materials to producing finished goods locally. It also aims to integrate small and medium-sized enterprises into industrial growth while strengthening infrastructure and energy systems to support manufacturing.

Tinubu stressed that the administration would measure success by tangible outcomes such as new factories, job creation, increased exports, and greater value retention within the economy.

He also highlighted the importance of private sector participation, noting that businesses remain central to economic expansion and industrialization.

The president commended Nigerian manufacturers, including industrialist Aliko Dangote, whose companies contributed significantly to government revenue through taxes, particularly in the cement sector.

Minister of State for Industry, Trade and Investment, John Enoh, said recent policies such as the restriction on raw shea nut exports had already boosted local processing capacity, increased farmer incomes, and expanded Nigeria’s share of the global shea industry.

Industry leaders, including the chief executive of Flour Mills of Nigeria, Boye Olusanya, said the policy would encourage further investment by providing clarity and predictability for manufacturers.

Tinubu expressed optimism that with proper implementation, Nigeria could leverage its youthful population, large market, and industrial reforms to drive sustainable economic growth and long-term prosperity.

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