During an official reception for the executive leadership of the Nigerian Institute of Public Relations at the agency’s administrative headquarters, the communications regulator emphasized that working alongside certified communication specialists is essential for demystifying complex industrial policies and reinforcing operational transparency.

The commission’s chief executive, Dr. Aminu Maida, extended accolades to the visiting delegation for clinching the organizational rights for the upcoming 2026 World Public Relations Forum. He remarked that this milestone underscores the nation’s capacity to direct international perceptions favorably, while urging the practitioners to utilize an approaching continental telecommunications assembly to further project the country’s commercial strengths.

The oversight body highlighted several current campaigns requiring strategic media deployment, particularly the safeguarding of essential digital facilities, civic enlightenment regarding internet resource consumption, clear pricing structures, and competitive market safeguards.

According to administration updates, recent structural adjustments within the communication sector have successfully revived external stakeholder morale, unlocking substantial capital inflows meant for network amplification rather than mere operational maintenance.

In response, the head of the public relations body, Dr. Ike Neliaku, pledged the association’s specialized expertise to drive the agency’s information dissemination goals, affirming that corporate reputation management and state development are deeply intertwined.

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Adonri made the projection while speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) Mid-Year 2026 Capital Market Review and Outlook held in Lagos.

According to him, the equities market is poised to gradually regain momentum as investors respond to improving corporate performance, stronger economic indicators and increasing confidence in the country’s reform agenda.

He, however, cautioned that high inflation, elevated interest rates, political activities ahead of the 2027 general elections, insecurity, simultaneous capital-raising exercises by companies and the ongoing conflict in the Gulf region remain key downside risks that could affect market performance in the months ahead.

Adonri explained that the recent correction on the Nigerian Exchange should not be viewed as a sign of weakening market fundamentals but rather as a normal phase of portfolio rebalancing by institutional investors following the strong rally triggered by ongoing economic reforms.

“The current market correction is a result of institutional investors repositioning their portfolios and not an indication of a breakdown in market fundamentals,” he said.

He expressed optimism that stronger corporate fundamentals and improved earnings prospects across listed companies would support a gradual recovery in the equities market during the second half of the year.

While projecting that the current high interest rate environment is likely to persist, Adonri said Exchange Traded Products (ETPs) are expected to realign with their underlying fundamentals as market conditions improve.

He also noted that the activation of the commercial papers and derivatives markets would deepen Nigeria’s capital market, broaden investment opportunities and enhance market liquidity.

Adonri identified the anticipated listing of Dangote Refinery on the Nigerian Exchange as one of the most significant developments expected in the coming months, describing it as a potential game changer capable of transforming the size, depth and attractiveness of Nigeria’s capital market.

Reviewing the country’s macroeconomic outlook, he said Nigeria’s ongoing economic reforms continue to receive positive recognition from international institutions.

According to him, the International Monetary Fund (IMF) has acknowledged that the reforms are producing improved macroeconomic outcomes, while leading global credit rating agencies have upgraded or affirmed Nigeria’s sovereign credit ratings.

He noted that S&P Global Ratings upgraded Nigeria’s sovereign credit rating to ‘B’ from ‘B-’ with a stable outlook in May 2026. Fitch Ratings also affirmed the country’s ‘B’ rating with a stable outlook, while Moody’s upgraded Nigeria’s rating to ‘B3’ from ‘Caa1’.

Adonri said the improved ratings reflect growing confidence in Nigeria’s economic management, supported by greater foreign exchange stability, rising external reserves and increased crude oil production.

He added that the World Bank and IMF project Nigeria’s economy to grow by 4.1 per cent in 2026, while the Central Bank of Nigeria (CBN) forecasts a stronger growth rate of 4.49 per cent.

According to him, higher crude oil production, expanding domestic refining capacity, improving foreign reserves and a relatively stable and appreciating naira are expected to support investor confidence and economic growth.

Despite the positive outlook, Adonri stressed that sustained macroeconomic stability and policy consistency remain essential to preserving investor confidence and ensuring long-term growth in the capital market.

He expressed confidence that once institutional investors complete their portfolio adjustments and economic reforms continue to gain traction, the Nigerian stock market will gradually return to a stronger growth trajectory in the second half of 2026.

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Speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) Mid-Year 2026 Capital Market Review and Outlook in Lagos, Adonri said stronger corporate earnings and improving macroeconomic indicators are expected to support renewed momentum in the stock market.

He explained that the recent decline in share prices should not be viewed as evidence of weak market fundamentals but rather as a normal adjustment resulting from institutional investors rebalancing their portfolios after the rally driven by recent economic reforms.

According to him, the market’s underlying fundamentals remain solid, with investor sentiment supported by ongoing reforms and signs of macroeconomic stability.

Adonri, however, warned that inflation, political activities ahead of the 2027 general elections, insecurity, simultaneous corporate capital-raising programmes and geopolitical tensions in the Gulf region could weigh on market performance in the coming months.

He also projected that interest rates would remain elevated for now, while Exchange Traded Products are expected to gradually align with their underlying values as market conditions improve.

The investment expert identified the anticipated listing of the Dangote Refinery on the Nigerian Exchange as a major development that could significantly expand the size, liquidity and attractiveness of Nigeria’s capital market.

Reviewing the broader economy, Adonri noted that Nigeria’s reform agenda has continued to earn international recognition, citing improved sovereign credit ratings and positive economic growth forecasts from global institutions as indicators of growing confidence in the country’s economic management.

He added that higher crude oil production, improved foreign exchange reserves, expanding domestic refining capacity and a more stable naira are expected to support economic growth and encourage investment.

Adonri maintained that while the market is navigating short-term uncertainties, sustained policy consistency, macroeconomic stability and the completion of institutional portfolio adjustments should position the equities market for a moderate recovery in the months ahead.

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Speaking at the opening of the Second Biennial Conference of the Capital Market Academics of Nigeria in Abuja, Agama described the academic community as an indispensable partner in shaping effective regulations through research and intellectual engagement.

He said sound policymaking depends on credible evidence and innovative ideas, stressing that research generated through academic studies, conferences and scholarly publications provides valuable insights for responding to the changing dynamics of the financial markets.

According to the SEC Director-General, the Commission considers academics strategic stakeholders whose contributions can improve regulatory decisions, strengthen investor confidence and support long-term market development.

Agama noted that Nigeria’s capital market is entering a new phase following the enactment of the Investments and Securities Act, 2025 and the implementation of a new 10-year Capital Market Master Plan, making continuous research and constructive policy dialogue more important than ever.

He emphasised that ongoing reforms require rigorous analysis, independent scrutiny and informed debate to ensure that regulatory frameworks remain responsive to emerging challenges while reflecting global best practices.

Commending CMAN for choosing equitable and inclusive growth as the conference theme, Agama described the focus as timely and aligned with Nigeria’s broader economic development priorities.

He encouraged participants to ensure that their discussions translate into practical recommendations capable of shaping future regulations and enhancing the efficiency of the capital market.

“The Commission’s door is open to evidence, to challenge and to fresh ideas, wherever they may lead. The finest measure of these two days will not be the sessions we hold, but the policies and the practices they go on to shape,” he said.

Agama reiterated the SEC’s readiness to work closely with researchers and academic institutions to advance knowledge, strengthen market regulation and support the sustainable growth of Nigeria’s capital market.

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Speaking during his inaugural lecture as a Fellow of the Capital Market Academics of Nigeria at the association’s Second Biennial Conference in Abuja, Oyedele said the lengthy resolution of commercial cases continues to undermine investor confidence and weaken Nigeria’s business environment.

He noted that commercial disputes currently spend an average of 15 years moving through the High Court, Court of Appeal and Supreme Court, creating uncertainty for investors and increasing the cost of doing business.

To address the challenge, the minister proposed a dedicated tribunal staffed by judges and arbitrators with expertise in commercial, financial and capital market matters. He said the tribunal should adopt digital case management systems and operate within clearly defined timelines to ensure prompt resolution of disputes.

According to Oyedele, the proposed body would complement existing investment protection mechanisms by providing businesses, suppliers, investors and joint venture partners with a faster and more reliable avenue for resolving commercial disagreements.

He stressed that virtually every financial instrument—including bonds, syndicated loans, private placements and structured notes—is built on enforceable contracts, making speedy dispute resolution critical to the growth and stability of the capital market.

The minister also challenged prevailing public attitudes towards government borrowing, arguing that debt should be assessed based on how borrowed funds are utilised rather than on the volume of borrowing itself. He maintained that borrowing for productive investments capable of generating returns above their financing costs supports economic development.

Oyedele further encouraged Nigerian entrepreneurs to embrace external investment, noting that retaining full ownership of a small business may deliver less value than holding a significant stake in a larger, better-capitalised enterprise.

He identified policy consistency, institutional credibility, effective contract enforcement and the rule of law as the key drivers of long-term investment, insisting that investors place greater value on certainty than generous tax incentives.

The minister also urged policymakers, professionals and the media to improve communication around economic reforms, saying stronger institutions, predictable policies and efficient justice delivery remain fundamental to positioning Nigeria as an attractive destination for sustainable investment.

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