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Tinubu hails NGX ₦100tn milestone, urges Nigerians to invest locally

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President Bola Tinubu on Thursday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.

Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.

He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.

“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said, attributing the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.

The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”

The President disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.

Tinubu also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.

“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.

He attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.

Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.

Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.

Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.

Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.

Tinubu described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.

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Protect Vulnerable Benue People From Persistent Attacks, Pope Leo XIV Tells FG

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Pope Leo XIV and the Bishop of Makurdi catholic diocese, Wilfred Anagbe, has called on the federal government to protect vulnerable people in Benue State from persistent attacks.

He made the call during the unveiling of a 14-foot memorial wall to commemorate the 1st anniversary of those killed in Yelewata on June 13th 2025.

In a message read by the Bishop, Pope Leo XIV assures the people of Yelewata of sustained prayers as leaders across political lines demanding workability solutions to the killings in Benue state

The one-year memorial wall monument built and commissioned by American missionaries led by Judd Saul, who also donated relief materials consisting of food and non-food items, is part of the global efforts to address attacks on vulnerable communities across Nigeria.

A total of 271 people, including 66 Children, 83 women, and 122 men, who were killed, have their names engraved on the memorial wall.

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Kwankwaso meets Obi in Abuja, calls for tolerance, sacrifice in NDC

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Former Kano State Governor and vice presidential candidate of the Nigerian Democratic Congress, NDC, Rabiu Musa Kwankwaso on Friday met with the presidential candidate of the NDC, Mr Peter Obi, at his Abuja residence.

Kwankwaso disclosed this in a post via his X handle on Saturday, stating that the meeting was focused on productive discussions on key partisan and national issues.

He said“Yesterday, I had the honour of hosting my brother and partner, His Excellency Peter Obi, at my residence in Abuja.

“I warmly welcomed him back from his highly productive international trip, and we engaged in frank and productive discussions on key partisan and national issues.

“Our party, the National Democratic Congress (NDC), remains united. As leaders, we must continue to demonstrate maturity by making the necessary sacrifices and tolerating our differences in pursuit of our shared goal.

“We are resolute in this mission, and together, we shall ensure that Nigeria is OK.

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Mbeki credits Abdulsalami with fast‑tracking Nigeria’s 1999 democracy

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Former South African President Thabo Mbeki has credited former Nigerian Head of State General Abdulsalami Alhaji Abubakar with fast‑tracking Nigeria’s return to democracy in 1999, describing the speed and integrity of the 1998–1999 transition as an exceptional act of statesmanship that reshaped Nigeria and set a benchmark for Africa.

Speaking virtually at the public launch of three books honouring General Abdulsalami on the eve of his 84th birthday, Mbeki said the retired general’s decision to commit to an 11‑month transition after assuming power in June 1998 was not just prudent politics but a decisive break from the pattern of prolonged military rule that had long plagued the continent.


Mbeki highlighted the chaotic circumstances that brought Abdulsalami to power following the sudden death of former Head of State General Sani Abacha on 8 June 1998.

“Following his appointment as head of state by the Provisional Ruling Council, he recognized the urgent need for stability and democratic governance and hence chose to commit to a short transition period,” Mbeki said.

Unlike many military leaders who consolidate power, Mbeki argued, Abdulsalami’s response was defined by restraint and national interest:
“His response to the political uncertainties that followed the sudden demise of General Sani Abacha… demonstrated great wisdom, foresight, and statesmanship.”

He said Abdulsalami “placed the interests of his country first and overcame the temptation and allure of power.”

Mbeki described how Abdulsalami, within days of taking office, announced he would conduct elections and hand over to a civilian government within 11 months.

“By recognising this achievement, we are not only acknowledging a fact of history. But indeed also paving the way for the consolidation of our aspirations for peace and inclusive development all over our continent,” Mbeki said.

He called the 1998–1999 tenure “significant not only for its brevity, but also for the cascading impacts that it created in the history of democratic transition in Africa.”

Mbeki said the speed of the transition was matched by deliberate institutional reforms: “His administration immediately upon coming into office, set about providing [a] constitution for Nigeria along the necessary electoral and governance reforms leading to free and fair elections in 1999.

“He ensured the strengthening of institutions necessary for sustaining democratic rule in Nigeria, thereby paving the way for Nigerian civilian government,” he added.

Mbeki acknowledged the apparent contradiction in a military officer becoming a champion of democracy.
“Given some of Africa’s history since independence, it would be natural to expect that a man of his background from the military profession who rose to become general and head of state while in a soldier’s uniform would not be associated with the idea of democracy.”

He then contrasted expectation with reality: “However, the beauty lies in the fact that he performed both duties with a keen sense of justice and history, responsibility and distinction, leaving many in awe of his ability to organize a political transition in his country as quickly as he did.”

Mbeki said Abdulsalami’s conduct defied the usual pattern of military rule in Africa: “Admittedly, Africa’s history and its political evolution have been characterized by periods of military rule, of one‑party states, of authoritarianism, and protracted struggles for democratic governance.”

Yet he argued that Abdulsalami’s actions broke that cycle: “The example set by General Abdulsalami in Nigeria offers several key lessons for African leaders and institutions. His commitment to democracy, peace, and stability must stand out as his greatest legacy.”

Mbeki highlighted that the fast‑tracked transition was not a rushed exercise but one that built enduring institutions. “Without doubt, he has laid the foundation for the sustenance of the democratic ethos and card on the credibility of elections, respect for constitutional term limits, and adherence to democratic principles, which have now become the norm in Nigeria,” Mbeki said.

“The constitutional framework and electoral institutions that he helped to create still serve as the bedrocks of Nigeria’s democracy,” he said.

He noted that the transition also established a critical precedent: “He not only swiftly paved the way towards democratic governments in Nigeria, but also laid the foundation for subsequent peaceful transfers of power in Nigeria, for which not only you Nigerians, but the rest of us Africans are immensely proud.”
Mbeki framed this as a continental achievement: “By recognizing this achievement, we are not only acknowledging a fact of history. But indeed also paving the way for the consolidation of our aspirations for peace and inclusive development all over our continent.”

Mbeki insisted that the three books launched at the event are essential to preserving the narrative of Abdulsalami’s fast‑tracked 1998–1999 transition.

The publications are: Call of Duty: An Autobiography of Gen. Abdulsalami Alhaji Abubakar; Nigeria’s Grand Patriot: Gen. Abdulsalami Alhaji Abubakar; Mediating for Peace in Africa: A Festschrift in Honour of Gen. Abdulsalami Abubakar
“The three books that we’re launching today testify to the richness of the life of Abdulsalami Abubakar and his odyssey as a soldier, a husband, a father, a leader, and a statesman of global record,” Mbeki said.

He warned that without proper scholarship, history would be distorted: “The paucity of scholarship and research leaves room for discussion and misrepresentation, which leads to the adoption of wrong policies.”

“Writing books and leaving behind us correct narratives and testimonials for present and future generations matters greatly,” he said.

Mbeki saluted the authors and the general: “I therefore salute the authors of the three books being launched today, including the man of the movement, General Abdulsalami Abubakar, who has contributed a very informative autobiography, Call of Duty.”

Mbeki framed the story of the 11‑month transition as a generational lesson for African leaders and youth.
“The duty of advancing democratic transition and building peace and security in Africa must be a generational endeavor, involving present and future leaders of the continent,” he said.

“In doing so, we must imbibe the legacies of leaders like Abdulsalami and read about their lives as we find them in books such as the three that we are launching today.”

He urged that young people be taught their responsibilities: “Educating our youth and instilling in them the duties of patriotism and good conduct must entail holding up the examples of leaders like General Abdulsalami to build and perpetuate the active interests and participation of the youth.”

Mbeki also called for familiarity with continental policy instruments: “This must include familiarization of the youth with the African continental policy positions binding on all member states of the African Union… These policies are included in such important documents as the African Charter on Democracy, Elections and Governance, as well as the protocol… establishing the Peace and Security Council of the African Union.”

Mbeki concluded with a personal address to General Abdulsalami on his 84th birthday. “I congratulate my dear brother, friend and companion in Pan‑Africanism… on attaining the right age of 84,” he said.

“More than being blessed with attaining such an age, we must celebrate his lofty stature as an eminent African statesman, a global leader, an accomplished and principled soldier, a family man and a man for all seasons, who has dedicated his life to peace, to the cultivation of harmony in his country and beyond, and achieving shared development throughout Africa.”

Mbeki summed up the essence of Abdulsalami’s leadership:
“His selfless service, commitment to national unity and exemplary leadership remain a model for others to follow.”

He ended with a quote from Nelson Mandela: “Real leaders must be ready to sacrifice all for the freedom of their people. May we all remain committed to this noble perspective.”

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