The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, has said Nigeria’s capital market is undergoing a re-rating as global investors reassess the country’s economic outlook and investment potential.
Popoola made the remarks during a live interview on BBC Newsday in London, as part of broader engagements with investors and stakeholders during President Bola Ahmed Tinubu’s state visit to the United Kingdom.
According to him, improved market performance and increased policy clarity are reshaping international perceptions of Nigeria. He noted that investors are taking a closer look at economic data, market returns, and ongoing reforms, contributing to a gradual shift in sentiment.
“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,” Popoola said.
He explained that the country’s equity market has posted strong returns in recent months, enhancing its competitiveness among emerging and frontier markets. This, he said, is helping to recalibrate long-standing risk perceptions and attract renewed foreign interest.
Popoola also pointed to improvements in Nigeria’s energy sector, including increased domestic refining capacity and ongoing reforms, as factors reducing the economy’s vulnerability to external oil price shocks and strengthening investor confidence.
He stressed that sustaining the positive momentum will depend on consistent policy implementation. “Global capital responds to clarity and consistency. As those elements become more evident, Nigeria naturally becomes more investable,” he said.
The NGX Group chief further highlighted the importance of continued engagement with global financial hubs, noting that cities like London remain critical in linking Nigeria’s capital market with international capital pools.
He added that Nigeria’s evolving market structure and reform efforts are reinforcing its position as a destination for long-term investment, with growing recognition of the country’s resilience and growth potential.
Popoola concluded that Nigeria’s capital market is increasingly being viewed through a more balanced, data-driven lens, reflecting both improved fundamentals and expanding opportunities for investors.
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