FX unification, upstream approvals boost NGX firms - Presidency

The Nigerian Presidency has highlighted the robust first-half 2026 earnings reported by numerous companies on the Nigerian Exchange (NGX) as a direct result of economic reforms initiated by President Bola Tinubu's administration. Since taking office in mid-2023, the government has pursued a series of policy changes aimed at revitalizing the nation's economy.

Key among these reforms, according to the Presidency, are the unification of foreign exchange (FX) rates and the streamlining of approvals for upstream activities in the oil and gas sector. These measures are credited with significantly improving investor confidence and creating a more favorable business environment.

The positive financial results posted by NGX-listed firms demonstrate the tangible impact of these policy shifts. The improved business climate has evidently translated into enhanced corporate performance, signaling a potential turnaround for the Nigerian economy.