‎President Bola Ahmed Tinubu has projected that Nigeria’s inflation rate is likely to fall below 10 per cent in 2026, as the Federal Government’s economic reforms continue to yield results.
‎The President made the projection in a statement issued on Thursday by his Special Adviser on Information and Strategy, Mr Bayo Onanuga.
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‎According to him, the anticipated decline in inflation would translate into improved living standards for Nigerians and accelerated Gross Domestic Product (GDP) growth.
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‎“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,” Onanuga said.
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‎The statement was issued as President Tinubu commended corporate Nigeria and other stakeholders in the capital market for surpassing the N100 trillion market capitalisation milestone on the Nigerian Exchange (NGX).
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‎Data from the NGX showed that market capitalisation closed at N101.80 trillion on Monday, marking a historic achievement for the Nigerian capital market.
‎Market capitalisation represents the total value of all outstanding shares listed on the stock market.
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‎President Tinubu described the feat as an inspiration for investors operating in the money and capital markets, urging Nigerians to deepen their investments in the local economy.
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‎He assured investors that 2026 would be a better year, as ongoing economic reforms were expected to deliver stronger outcomes and greater returns.
‎“With the NGX crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Onanuga said.
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‎He noted that while many global markets struggled with stagnation or weak recovery in 2025, the NGX All-Share Index recorded strong growth.
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‎According to him, the index closed 2025 with a 51.19 per cent return, compared to 37.65 per cent in 2024, ranking among the highest globally and outperforming major indices such as the S&P 500, FTSE 100 and several emerging-market peers.
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‎“Nigeria is no longer a frontier market to be ignored; it is now a compelling destination where value is being discovered,” he said.
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‎The President also highlighted strong performances by listed companies across key sectors, including industry, banking, energy and technology, attributing the gains to supply chain localisation, resilience and innovation.
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‎Tinubu said his administration was just beginning, adding that the pipeline for new listings on the NGX remained robust.
‎According to him, indigenous energy firms, technology companies, telecoms operators and infrastructure-driven entities are preparing to access the capital market to fund expansion, which would further boost market capitalisation and deepen economic participation.
‎On inflation, the President acknowledged the initial challenges associated with economic reforms but said recent data showed a downward trend.
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‎He projected inflation below 10 per cent in contrast to the 12.9 per cent forecast by the Central Bank of Nigeria (CBN) in its 2026 economic outlook.
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‎Onanuga attributed the moderation in inflation to monetary tightening, the discontinuation of distortionary “Ways and Means” financing, and increased investments in agriculture.
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‎He said inflation declined from a 24-month high of 34.8 per cent in December 2024 to 14.45 per cent in November 2025, with projections of about 12 per cent in 2026.
‎The President also noted improvements in Nigeria’s external position, stating that the country recorded a current account surplus of 16 billion dollars in 2024, according to figures from the CBN.