The federal government on Tuesday claimed that the current administration has brought unprecedented prosperity to investors at the Nigerian Stock ExchangeBayo Onanuga, Special Adviser to the President on Information and Strategy, disclosed this today via his official X account that “when President Bola Ahmed Tinubu took office on 29 May 2023, the All Share Index at the Nigerian Exchange was 52,973.88 points. The market capitalisation was N28.845 trillion.

“Today, the stock market valuation has soared to unprecedented heights.

He noted that “ the  benchmark All-Share Index (NGX-ASI) closed on Tuesday at 146,055.89 points, bringing year-to-date returns to 41.90%. Market capitalisation edged up to ₦92.40 trillion from ₦92.33 trillion in the prior session.

“Compared to the market position in 2023, there has been an increase of over 300 per cent in the market capitalisation in the Tinubu era. Companies such as Nestle, Presco, Okomu Oil, Dangote Cement, Bua Cement, Bua Foods, MTN, Guinness, WAPCO, Nigerian Breweries, NAHCO, GTB, First Holdco, Zenith, Stanbic, UBA, Wema, and Fidelity Bank have all experienced phenomenal gains in market valuation.

“Local and foreign investors are benefiting from the robust market performance, a direct result of the far-reaching reforms and policies introduced by the Tinubu administration to revitalise the Nigerian economy.

“While some politicians desperate for power have always downplayed these achievements, we must acknowledge the positive transformation taking place in the economy.

“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 Nigerians stockholders.”