Nigeria’s stock market has recorded a dramatic surge of about 348% under President Bola Ahmed Tinubu’s administration, according to a recent market analysis.

The report highlights that the rally reflects strong investor confidence and sustained bullish momentum across listed equities on the Nigerian Exchange (NGX), driven by economic reforms introduced since 2023.

Data referenced in the analysis shows that the growth represents one of the strongest equity market performances in Nigeria’s recent history, with the market expanding significantly in value as investors respond to macroeconomic adjustments, currency reforms, and renewed foreign participation.

The Nigerian equities market, operated by the Nigerian Exchange Group (NGX), has continued to post strong gains in 2026, with multiple sessions recording trillions of naira in added market capitalization.

President Tinubu has repeatedly pointed to capital market performance as evidence of improving investor sentiment and the effectiveness of ongoing economic reforms, including subsidy removal and exchange rate adjustments.

Analysts, however, note that while the market rally signals improved confidence, broader economic challenges such as inflation and cost-of-living pressures remain significant concerns for households.

The latest figures add to a growing narrative that Nigeria’s financial markets are experiencing one of their strongest bullish cycles in years.