President Bola Tinubu has pointed to a sharp rise in corporate profits on the Nigerian Exchange (NGX) as proof that his administration's economic reforms are taking hold.
Speaking at the maiden State House Media Dinner, the president argued that the surge in earnings for listed companies in the first half of 2026 validates the difficult policy shifts implemented over the past year.
The political endorsement comes as market data shows a significant recovery in equity valuations.
The top 10 listed companies on the NGX collectively added N27 trillion in market capitalization as of June 2026, marking a decisive shift in investor sentiment toward the local bourse.
This valuation surge suggests that the initial shock of subsidy removals and currency liberalization is giving way to a period of corporate stabilization and margin recovery.
However, the administration's reform agenda faces ongoing legislative friction.