*Urges FG to ensure policy consistency, deepen market liquidity 

* Market value rises 228% from N30tn to N158tn in 3 years

Emmanuel Addeh in Abuja

Erstwhile National President of the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA), Dele Oye, yesterday argued that Nigeria must maintain policy consistency, deepen market liquidity and strengthen investor confidence to sustain its position as the world’s best-performing stock market. 

After recording a 228 per cent growth in three years, the Chairman of the Alliance for Economic Research and Ethics (AERE), said the impressive rise of the Nigerian Exchange (NGX), which saw market capitalisation increase from about N30 trillion in 2023 to N158.3 trillion, represents a significant shift in investor perception of Nigeria’s economy.
He, however, stressed that sustaining the momentum would require continued economic reforms, improved corporate governance, stronger institutional participation and policies that support long-term investment.
“Three years ago, if you had told a seasoned investment banker that Nigeria’s stock market would become the world’s best-performing equity market, outpacing the United States, Europe, and even Asia—they would have laughed you out of the room. Nigeria was a frontier market, code for ‘risky, illiquid, and best avoided.’