Economy
President Tinubu Lauds NGX’s N100tn Milestone, Says It Signals Investor Confidence
President Tinubu Lauds NGX’s N100tn Milestone, Says It Signals Investor Confidence
President Tinubu lauds NGX’s N100tn milestone, says it signals investor confidence. Mr Tinubu said the stock market’s strong performance reflects investor confidence in the broader economy and validates ongoing reforms.
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).
Mr Tinubu, in a statement on Thursday by his spokesperson, Bayo Onanuga, described the milestone as a strong signal of investor confidence and renewed faith in Nigeria’s economic direction.
“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.
He urged Nigerians to deepen investments in the local economy, assuring that 2026 would deliver stronger returns as reforms continue to mature.
“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.
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.
Mr 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.

President Tinubu Lauds NGX’s N100tn Milestone
He added that inflation fell from 34.8 per cent in December 2024 to 14.45 per cent in November 2025.
Mr 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. Mr Tinubu said non-oil exports surged by 48 per cent to N9.2 trillion by the third quarter of 2025.
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. Mr 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 were declining, and education financing was expanding through NELFUND.
“Nation-building is a process. The N100 trillion market capitalisation signals that Nigeria’s economy is robust and productive,” Mr Tinubu said.
He pledged to continue building a transparent, inclusive, and high-growth economy anchored on fiscal and tax reforms implemented from January 1.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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