By Danladi Ahmed
The Tinubu Media Volunteers (TMV) has ascribed the strong showing and results posted by companies listed on the Nigerian stock market to the economic reforms of the President Bola Tinubu administration.
In a statement by its Chairman Chukwudi Enekwechi and Secretary Segun Ogedengbe, it noted that most companies in the key sectors of the economy have been recording significant profits.
It said: “Some of the benefiting companies are export-oriented dealing in foreign exchange.
“They include Dangote Refinery, Aradel Holdings and Seplat energy, among others.
“We also recall that Abuja-based Independent Media and Policy Initiative, IMPI, had in one of its policy statements highlighted the administration’s floating of the naira and removal of fuel subsidy.
“All these had contributed significantly in turning the loss-making companies to profitability.
“The floating of the naira also marked a turning point in the foreign exchange regime. The unification of the foreign exchange market improved price discovery and positioned companies with enough foreign exchange exposure to reflect the value of their dollar-denominated revenues more accurately.
“We can also state that the earning reversal from loss to profit shows how currency stability and internal cost control initiated by the federal government can rapidly shift the fortunes of companies previously dragged down by macro-economic headwinds.
“For example, MTN Nigeria, Nigerian Breweries and Guinness among others are the top beneficiaries of the turnaround enabled by the President Tinubu administration’s economic reforms.
“In the first half of 2025, the combined revenues of the largest listed companies stood at N10.59 trillion, whereas in the first half 2026 the combined revenues of the ten largest listed companies shot up to N14.40trillion.
“We therefore attribute the positive outlook of the listed companies to the economic reforms of the federal government.”
The group added that the results are translating to huge benefits for investors, and other stakeholders, and also projecting the Nigerian investment environment positively to foreign investors.
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