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Tinubu Jubilant as NGX Market Capitalisation Surpasses N100trn

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By Tony Obiechina, Abuja

President Bola Tinubu has praised corporate Nigeria, citizens and capital market stakeholders for surpassing the N100 trillion market capitalisation milestone on the Nigerian Exchange (NGX).

This was contained in a statement issued by Presidential Spokesperson, Bayo Onanuga, on Thursday in Abuja.

Tinubu described the milestone as a strong signal of investor confidence and renewed faith in Nigeria’s economic direction.

He urged Nigerians to deepen investments in the local economy, assuring that 2026 would deliver stronger returns as reforms continue to mature.

“With the NGX crossing the historic N100 trillion market capitalisation mark, Nigeria is witnessing the birth of a new economic reality and rejuvenation,” the President said.

“In 2025, while many global markets struggled, the NGX All-Share Index closed with a 51.19 per cent return, higher than the 37.65 per cent recorded in 2024.”

“This performance ranks among the highest globally, outperforming the S&P 500, FTSE 100 and several emerging markets.”

“Nigeria is no longer a frontier market to be ignored. It is now a compelling destination where value is being discovered,” he said.

Tinubu said the stock market’s strong performance reflects investor confidence in the broader economy and validates ongoing reforms.

He noted impressive performances across sectors, including industry, banking, technology and infrastructure.

“Nigerian companies are proving that the country can deliver strong and sustainable returns on investment,” the President said.

He said the pipeline for new listings remains strong, with energy firms, telecoms, technology companies and infrastructure players seeking market access.

Tinubu said additional listings would boost capitalisation and deepen democratic ownership of the economy.

He said reforms were also delivering positive microeconomic outcomes after initial adjustment pressures.

“Inflation has continued to decline following monetary tightening and the elimination of distortionary Ways and Means financing,” he said.

He added that inflation fell from 34.8 per cent in December 2024 to 14.45 per cent in November 2025.

Tinubu said inflation was projected to decline further in 2026, improving living standards and accelerating GDP growth.

He also highlighted improvements in Nigeria’s external position.

“Nigeria posted a $16 billion current account surplus in 2024, with projections rising to $18.81 billion in 2026,” he said.

Tinubu said non-oil exports surged by 48 per cent by the third quarter of 2025, reaching N9.2 trillion.

Exports to Africa rose by 97 per cent, while manufacturing exports grew by 67 per cent year-on-year, he added.

The president said foreign reserves exceeded $45 billion, providing stability for the naira and cushioning external shocks.

He said the Central Bank projects reserves to exceed $50 billion in the first quarter of 2026.

Tinubu also highlighted progress in rail expansion, road construction and port revitalisation.

He cited the Lagos-Calabar and Sokoto-Badagry superhighways as transformative national infrastructure projects.

The president said healthcare delivery was improving, medical tourism costs declining and education financing expanding through NELFUND.

“Nation-building is a process. The N100 trillion market capitalisation signals that Nigeria’s economy is robust and productive,” Tinubu said.

He pledged to continue building a transparent, inclusive and high-growth economy anchored on fiscal and tax reforms implemented from Jan. 1.

NEWS

2027: INEC Steps Up Preparations, Completes Nine Activities

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By Tambaya Julius, Abuja 

The Independent National Electoral Commission (INEC) has completed nine of the 14 activities on its timetable for the 2027 general elections, while addressing complaints from political parties over alleged omissions and discrepancies in candidates’ lists.

The development emerged at a youth engagement programme in Abuja, where electoral stakeholders also called for measures to protect young voters from violence and strengthen public confidence in the electoral process.

The INEC Chairman, Prof. Joash Amupitan, represented by the National Commissioner for Information and Voter Education, Dr.

Mohammed Haruna, said the commission was reviewing its preparations and working to resolve outstanding issues ahead of the polls.

The event, titled “The Electorate: A Youth Dialogue with INEC,” was organised by Abuja Global Shapers Community (AGC) in partnership with Nigeria Youth Futures Fund, Yiaga Africa Abuja and Enough is Enough Nigeria, under the theme, “Let’s Talk About the 2027 Elections.”

Haruna said the commission had made progress on key activities, including the publication of candidates nominated by political parties for elective positions.

He acknowledged that the publication had generated complaints from some parties over alleged omissions and discrepancies, adding that INEC had invited the affected parties to submit petitions for consideration before finalising the list.

He described the voters’ register as central to the electoral process, noting that it would serve as the basis for identifying and accrediting eligible voters on election day.

Haruna also said INEC had increased the frequency of its meetings to review preparations, assess progress and take decisions necessary for the smooth conduct of the elections.

He explained that the commission comprises a chairman and 12 national commissioners responsible for policy decisions, alongside resident electoral commissioners across the 36 states and the Federal Capital Territory.

The Curator of Abuja Global Shapers Community, Solape Sonuga, urged participants to engage INEC on its readiness for the elections and the measures needed to ensure credible polls.

Sonuga described the 2027 elections as particularly important to young Nigerians, saying the engagement was designed to promote youth participation, strengthen voter education and encourage civic responsibility beyond election day.

The Programme Manager for Governance at Yiaga Africa, Yetunde Bakare, called for deliberate efforts to ensure that young Nigerians could participate safely and meaningfully in the elections.

Citing Yiaga Africa’s voting intention survey, Bakari said 84 per cent of Nigerians surveyed were likely or very likely to vote in 2027. She said 61 per cent feared electoral violence could prevent them from participating, while only 40 per cent of young respondents said they were very likely to vote.

She described the figures as a concern for electoral stakeholders, stressing that voter mobilisation alone would not be sufficient without a safe and accessible environment for participation.

Bakare commended INEC’s preparations, including online voter registration, printable Permanent Voter Cards, planned nationwide mock accreditation exercises and efforts to strengthen the governance of electoral technology and artificial intelligence.

She urged the commission to communicate promptly with voters when technical or operational challenges arise, ensure transparency in the use of electoral technologies and make adequate provisions for eligible voters in hard-to-reach communities.

She also encouraged young Nigerians to seek credible information, reject electoral violence and misinformation, and hold elected officials accountable beyond election day.

Bakari said transparency, effective communication and credible electoral processes were essential to building public trust and ensuring that the 2027 elections reflected the will of Nigerians.

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POLITICS

2027: Tinubu Accords Benue Security Top Priority, Tompolo Tells Supporters 

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Leader of the PBAT Door-to-Door Movement, Government Tompolo, has called on the people of Benue state to come out enmasse and vote for President Bola Tinubu in the 2027 election as he has demonstrated great concern for the security of life and property of the people, with the creation of the 5 Division of the Nigerian Army with headquarters in Makurdi, the state capital.

He described Tinubu as a leader, who said meant well for Nigeria and has shown this through bold policies and reforms including the State Police Bill, Local Government Autonomy Bill, Electricity Bill, and removal of petrol subsidy as well as the student loans programme, NELFUND, among others.

 

Ekpemupolo, also known as Tompolo, stated this in Makurdi, on Thursday, during the inauguration of the state chapter of the movement and distribution of 25 campaign vehicles to the state coordinators. 

According to Tompolo, who was represented by Kestin Pondi, Managing director of Tantita, only a leader with love for his people could come up with such policies within such a short period of time. 

“He is a president that wants Nigeria to be better than he met it. Tinubu is doing what no leader before him had the courage to do even though he knew it will turn the people against him. 

“We like to compare Nigeria with Asian countries that are doing so well but one thing we forget to remember is that these countries reforms were done in more than eight years,” he said. 

Continuing, Tompolo said: “They had bold leaders, they had courageous leaders who said we must reform and they stood by those reforms and today, they are the envy of the world. They are some of the most developed and civilised countries of the world.”

“Here in Nigeria, we have Tinubu, a man that is as courageous or even more courageous than those leaders. The man said we must reform and he has embarked on the reforms,” he added. 

Governor Hyacinth Alia, in his remarks said President Tinubu was the secret behind all the development the people of the state praise him for.

“Each time you thank me for working for Benue people, that is the man behind it,” he stated.

Alia showered praises on President Tinubu for making it possible for governors to work for their people, emphasising that Benue is working because of Tinubu’s support.

He called on the people to campaign assiduously and vote massively for Tinubu’s re-election to continue to enjoy the policies and programmes of his administration. 

The governor appreciated the president for prioritising the security of Benue, particularly for siting the 5 division in Makurdi earlier in the year, a development that had led to deployment of the military to crisis areas and borders, bringing about security, such that some previously internally displaced persons were returning home on their own to continue with farming. 

This development, the governor pointed out, will ensure Benue maintains its place as the food basket of the nation. 

Alia also listed factories the state had built, the 670 kilometres road network, free basic education, rehabilitation, mechanised agriculture, and upgrade and equipping of health centres and hospitals as some of the things the state was enjoying from the Tinubu administration, adding that there is more in stock if he gets re-elected. 

Earlier, National Coordinator of the Movement, Comrade Sunday Asuku, noted that Nigeria is currently on the right trajectory be ause a competent leader is in the saddle. 

According to him, the security of Benue, which had been plagued by insecurity for years, is a priority by the Tinubu administration, hence the establishment of an army division in the state among other measures, which have improved the state’s security. 

Asuku said a vote for Tinubu will ensure that his good initiatives for the state are fully delivered. 

The National coordinator also advised the voters to ignore leaders who swore to remove petrol subsidy but became turncoats after seeing that it is a tough choice, but rather vote for a leader like Tinubu who has brought bold reforms are laying a solid foundation for a better Nigeria.

“Say no to cowardice, no to those only interested in selling Nigeria’s assets. Ask them what they did when they were in office. A vote for Tinubu is a vote for NELFUND, improved security and better infrastructure,” he added. 

Also speaking, former governor of the state, Senator Gabriel Suswam, called on the people to vote for Tinubu, pointing out that his policies are laying a foundation for young Nigerians.

“Yes, there’s suffering now but there’s no way you can build a future without experiencing some pains. You’re experiencing some hardship but tomorrow will be better. 

“We are suffering today because those steps were not taken by previous administrations. So if you have a leader that is taking steps towards building a nigeria for the future he deserves support,” he stated. 

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NEWS

Bill to Design, Manufacture, Commercialize Drones Passes Second Reading in Reps

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By Ubong Ukpong, Abuja 

A bill for an Act to move the nation to developing the capacity to design, manufacture and commercialize drones, passed second reading on Wednesday, in the House of Representatives.

The “Bill for an act to provide for the development, promotion and industrialisation of the Nigerian drone industry; and for related matters,” was sponsored by the Deputy Speaker, Rep.

Benjamin Kalu and 12 others.

Leading the debate, one of the co-sponsors, Rep. Satomi Ahmad said the Bill seeks to establish a legal and institutional framework for the development, promotion and industrialisation of Nigeria’s drone industry.

Ahmad explained that it focused on indigenous research, design, manufacturing, commercialisation; reducing dependence on imported technology; building local content and technical capacity.

He said that it is also aimed at attracting investment; creating jobs; and positioning Nigeria as a competitive regional and international centre for drone manufacturing and related services.

Ahmad lamented that Nigeria’s dependence on imported technology has limited opportunities for local innovation, job creation and industrial growth and without coordinated support for manufacturing, commercialisation.

According to him,  indigenous enterprises may struggle to translate promising ideas into viable products.

He therefore urged his colleagues to support the Bill as it sought to 

address these gaps through targeted incentives, government procurement 

preferences, innovation funding and local-content requirements. 

Ahmad expressed optimism that the bill would transform Nigeria from a consumer of drone technology into a producer of 

indigenous solutions, skilled professionals and competitive industrial products.

The lawmaker said that its successful implementation could stimulate investment, create employment, 

strengthen national security and open new markets for Nigerian innovation.

“It is important to note that the future belongs to nations that can transform technological innovation into industrial capacity, economic prosperity and national security.

Drone technology is increasingly vital to agriculture, 

infrastructure, emergency response, scientific research and defence,” he said.

The lawmaker said that  Nigeria must therefore move beyond dependence on imported technology towards developing its own capacity to design, manufacture and commercialise drones.

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