On July 15, 2026, Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, has linked the unprecedented growth of the Nigerian Exchange Group (NGX) directly to ongoing economic reforms by the Federal Government.
According to Izunaso, these policy shifts are restoring both local and international investor confidence.
His remarks follow a report by Bloomberg ranking Nigeria’s stock market as the world’s best-performing equity market in dollar terms. Delivering nearly 70% in returns, the NGX surpassed major global markets, including South Korea.
Senator Izunaso (Imo West) called the global ranking a major milestone for Nigeria’s financial sector. He commended several key financial institutions for strengthening regulatory oversight and protecting investors. These institutions include:
Securities and Exchange Commission (SEC), Nigerian Exchange Group (NGX), Central Securities Clearing System (CSCS) and The Central Bank of Nigeria (CBN).
These combined efforts have improved market transparency and built operational resilience across the capital market ecosystem.
Adding to the market’s momentum, S&P Dow Jones placed Nigeria on its 2027 Country Classification Watchlist. This strategic move could upgrade Nigeria’s status from a standalone market to a frontier market.
“This development signals growing global appreciation for the gains made in Nigeria’s market regulation, accessibility, transparency, and operational resilience,” Izunaso stated.
The announcement comes during a sustained market rally. In a single trading session, the market capitalization gained over ₦3.4 trillion, driven by massive buying interest in banking and blue-chip stocks.
While celebrating the stock market’s surge, Senator Izunaso addressed public concerns that financial market gains have not yet fully translated into better living standards for everyday citizens.
Rather than dismissing these concerns, he framed them as a reminder of the work ahead:
“Acknowledging that these gains have not yet fully translated into household welfare is a valid reminder that our work is far from finished,” Izunaso noted. “Maintaining strict policy consistency is essential to preserving investor confidence. This performance is a vital milestone, not our final destination.”
