N6.61tn NGX Revenue Signals Economic Recovery — TMSG

JOEL OLADELE, Abuja

The Tinubu Media Support Group has said the N6.61 trillion revenue declared by 20 companies listed on the Nigerian Exchange Limited in the first quarter of 2026 is a strong indication that Nigeria’s economy is recovering under President Bola Ahmed Tinubu.

The group said the performance of the companies across major sectors of the economy contradicts opposition claims that the country’s economy is collapsing.

In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG described the financial results as encouraging and reflective of growing economic stability.

“We are enthused by media reports of a total of 20 companies listed on the Nigerian Exchange Limited (NGX) declaring an estimated N6.61 trillion revenue in the first quarter (Q1), ending March 31, 2026,” the statement said.

According to the group, the development points to the positive impact of ongoing reforms introduced by the Tinubu administration.

“This is a clear statement about the success of the ongoing economic reforms of the President Bola Tinubu administration,” it added.

TMSG argued that businesses would not be posting massive revenues in an economy widely portrayed by critics as distressed and chaotic.

“What this means is that the economy is good enough for business to thrive,” the statement noted.

The group said the companies, drawn from sectors such as manufacturing, petroleum marketing, telecommunications, power generation and breweries, reflected increasing economic activities and consumer spending.

It also questioned opposition narratives suggesting Nigerians were becoming poorer despite the strong earnings reported by listed firms.

“So the question is how would an economy on the verge of collapse be incubating companies making so much revenue?” the group asked.

“If Nigerians are poorer now than they ever were, according to narratives from politicians, who are those spending money to the extent that 20 companies listed on the stock exchange recorded an estimated N6.61 trillion in the first three months of the year?”

TMSG further highlighted that the reported revenue represents an 11.7 per cent increase compared to the N5.9 trillion recorded during the same period in 2025.

The group described the growth as evidence of improving macroeconomic conditions in the country.

“We make bold to say that Nigeria is witnessing an improved macroeconomic environment. Or how else can anyone explain an 11.7 per cent increase over the N5.9 trillion reported in the same period in 2025?” it stated.

The group expressed confidence that the improving economic indicators would gradually translate into better living conditions for Nigerians.

It also urged citizens to continue supporting the Tinubu administration, saying ongoing reforms were laying the foundation for long-term economic prosperity.

According to TMSG, the Federal Government remains committed to its target of building a one trillion-dollar economy by 2030 through sustained reforms and private sector growth.