Speaking at a news conference in Abuja on Monday, CMAN President Prof. Uche Uwaleke said although recent economic reforms have restored investor confidence and improved key macroeconomic indicators, many Nigerians are yet to feel the impact.
Addressing journalists on the theme, “The Nigerian Capital Market as a Catalyst for Equitable and Inclusive Growth: Bridging the Gap Between Macroeconomic Stability and Household Prosperity,” Uwaleke said rising stock market performance alone cannot be used to measure economic success.
He lauded the Federal Government for implementing reforms such as fuel subsidy removal, foreign exchange market unification and fiscal reforms, describing them as difficult but necessary steps towards restoring macroeconomic stability.
He also praised the Central Bank of Nigeria (CBN) for clearing over $7 billion in foreign exchange obligations, ending Ways and Means financing and implementing banking sector recapitalisation, which he said had strengthened investor confidence and improved Nigeria’s international outlook.
According to him, Nigeria’s equities market capitalisation exceeded N150 trillion as of June 26, 2026, while year-to-date returns approached 50 per cent, placing the country’s stock market among the best-performing globally.
Despite the progress, Uwaleke said many households and businesses continue to struggle with high living costs, expensive credit and declining purchasing power.
“The true measure of economic reform is whether it improves the welfare of ordinary citizens,” Persecondnews quotes him as saying.
Uwaleke also called for greater retail investor participation, increased listing of indigenous companies on the Nigerian Exchange and stronger collaboration between regulators, policymakers and academia to deepen the market and promote sustainable economic growth.
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