A media advocacy group, the Tinubu Media Volunteers (TMV), has attributed the surging profitability of companies listed on the Nigerian Exchange to the economic policies of President Bola Tinubu’s administration.
In a joint statement released by TMV Chairman Enekwechi and Secretary Segun Ogedengbe, the group claimed that structural shifts—notably the unification of the foreign exchange market and the removal of the petrol subsidy—have turned around the fortunes of major corporate entities across key sectors.
The group highlighted that listed firms with significant foreign exchange exposure, such as Dangote Refinery, Aradel Holdings, and Seplat Energy, have benefited from clearer price discovery and improved dollar-denominated revenue reporting following the naira float.
It added that consumer goods and telecommunications giants, including MTN Nigeria, Nigerian Breweries, and Guinness, have similarly leveraged internal cost controls and currency stabilization to shift from previous losses back into profitability.
Citing comparative market data, the group noted that the combined revenues of Nigeria’s top listed companies rose from ₦10.59 trillion in the first half of 2025 to ₦14.40 trillion over the same period in 2026.
According to the group, the financial recovery of these corporate players is generating higher returns for investors while rebuilding confidence among foreign investors looking to enter the Nigerian market.
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