Reforms and Price Transparency Set to Transform Nigeria’s Markets in 2026 – NGX CEO
Nigeria’s capital markets are poised for a stronger, more transparent future in 2026, thanks to ongoing macroeconomic reforms and improved price discovery, according to Temi Popoola, Chief Executive Officer of NGX Group. Speaking at the Pan-African Investment Forum themed “Global Economic Outlook 2026 & Overview of the Nigerian Stock Exchange: Opportunities and Market Structure,” Popoola highlighted the role of reforms in creating a stable and investable market environment.
The forum, organized by Radiant Collective Capital, brought together business leaders, founders, and financial professionals from across Africa and the diaspora. Popoola noted that the market has embraced structural reforms, strengthened transparency, and invested in resilient infrastructure, laying the groundwork for sustainable growth and long-term investor confidence. “Capital is becoming increasingly selective globally. Nigeria is positioning itself as a market that supports long-term economic growth,” he said.
Reflecting on 2025, Popoola described the year as a period of strategic adjustment, marked by reforms that fueled the NGX All-Share Index’s 51.19 percent gain. He attributed this growth to improved corporate earnings, consistent dividends, and confidence driven by reform initiatives. According to him, the current market structure now delivers clearer valuation signals and more disciplined capital flows, supported by tighter disclosure standards and better coordination among regulators.
Retail participation is also reshaping the market’s landscape, with a notable rise in women investors. Popoola cited a recent telecommunications public offer, in which women made up 76 percent of over 110,000 new investor accounts. “Women don’t just participate in markets; they help stabilize them,” he said, emphasizing that greater retail involvement strengthens market depth and resilience.
Looking ahead to 2026, Popoola identified key drivers for Nigeria’s investment climate, including shifting global supply chains, improving macroeconomic stability with projected GDP growth of 4.4 percent, and renewed foreign portfolio interest supported by transparency and yield improvements. He also highlighted technology and sustainability initiatives, such as NGX Invest and the NGX Net-Zero project, as pivotal in expanding access, managing risk, and engaging investors through education and sector-focused opportunities.
source: The Sun