Nigeria’s equity market is attracting renewed global attention as investor confidence grows, according to Temi Popoola, Group Managing Director and CEO of the Nigerian Exchange Group (NGX). Speaking during a BBC Newsday interview in London, Popoola emphasized that improving macroeconomic signals and clearer policies are reshaping how international investors view the Nigerian economy.
Popoola noted that investors are increasingly focusing on data and recent reforms rather than relying on long-standing perceptions of risk. “What we are seeing is a gradual re-rating of Nigeria. Investors are beginning to look at the data more closely, the returns, the reforms, and the improving macroeconomic direction, and that is changing sentiment,” he said, highlighting the growing optimism around the market.
Recent strong returns in Nigeria’s equity market have positioned the country more competitively among emerging and frontier markets. These gains are helping to recalibrate risk perceptions, while developments in the energy sector—such as rising domestic refining capacity—are reducing reliance on volatile global oil prices, further bolstering investor confidence.
Sustaining this positive shift, Popoola stressed, will require consistency in policy implementation. He noted that ongoing engagement with global financial hubs like London plays a key role in connecting Nigeria’s capital market to international investors, translating interest into actual investment inflows. “Global capital responds to clarity and consistency. As those elements become more evident, Nigeria naturally becomes more investable,” he explained.
Looking ahead, Popoola highlighted Nigeria’s evolving market structure and ongoing reforms as central to establishing the country as a long-term investment destination. He concluded that the market is now being assessed more through a data-driven lens, reflecting resilience and promising growth prospects, with opportunities for sustained international capital inflows.
source: The sun