NGX boss says Nigeria’s market undergoing re-rating
Lagos, March 2026 (TBL Africa) The Group Chief Executive Officer of the Nigerian Exchange Group, Temi Popoola, says Nigeria’s capital market is undergoing a re-rating.
This comes as global investors reassess the country’s economic trajectory and investment potential.
Popoola spoke on Tuesday during a live interview on BBC Newsday in London, amid broader engagements during President Bola Tinubu’s state visit to the United Kingdom.
He said recent market performance and improved policy clarity were reshaping Nigeria’s perception within the global investment community.
“What we are seeing is a gradual re-rating of Nigeria.
“Investors are beginning to assess data, returns, reforms and improving macroeconomic direction, and that is changing sentiment,” he said.
Popoola said Nigeria’s equity market had delivered strong returns in recent months, improving its competitiveness among emerging and frontier markets.
According to him, the performance is helping recalibrate long-held risk perceptions and attracting renewed international investor interest.
He noted improvements in the energy sector, including increased domestic refining capacity and ongoing reforms, were reducing exposure to external oil price shocks.
Popoola stressed that consistent policy implementation remained vital to sustaining the shift in investor perception.
“Global capital responds to clarity and consistency. As those elements become evident, Nigeria becomes more investable,” he said.
He also underscored the importance of sustained engagement with global financial centres such as London.
Popoola said such platforms connect Nigeria’s capital market to international pools of capital.
He noted that evolving market structures and reforms were strengthening Nigeria’s position as a long-term investment destination.
“There is broader recognition that Nigeria offers significant opportunities.
“The focus now is ensuring this recognition translates into sustained capital flows,” he said.
Popoola said Nigeria’s capital market was increasingly viewed through a balanced, data-driven lens, reflecting resilience and long-term growth potential.
