The Presidency has said President Bola Ahmed Tinubu deserves credit for the recent surge in the Nigerian Exchange (NGX), dismissing claims that the market’s performance is unrelated to government reforms. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made the assertion while reacting to criticisms of the administration’s economic policies.

Onanuga explained that ongoing reforms, particularly in the foreign exchange market, fiscal adjustments and measures aimed at restoring investor confidence, have played a key role in driving renewed activity in the capital market. He maintained that these policies are gradually strengthening macroeconomic stability and improving market sentiment.

He further noted that the positive performance of the NGX reflects growing confidence in Nigeria’s economic direction, as both local and foreign investors respond to policy signals from the administration. According to him, sustained reforms are beginning to yield visible improvements in key financial indicators such as equities trading and market capitalisation.

The presidential aide urged critics to acknowledge the impact of policy consistency on market performance, insisting that the current economic framework under President Tinubu is delivering measurable progress in the financial sector.