By Omoniyi David

The Nigerian capital market recorded one of its strongest performances in 2025, earning global recognition after delivering exceptional returns and attracting increased investor interest.

As attention shifts to 2026, analysts are assessing whether the rally can be sustained amid political and policy uncertainties.

The market closed 2025 with an average equities return of 51.19 per cent, placing Nigeria among the world’s top five performing stock markets.

The Nigerian Exchange All Share Index posted a net capital gain of N32.13 trillion, outperforming several major economies where average returns remained below 25 per cent.

Capital raising activities rose to about N7 trillion, reinforcing the market’s role as a key funding source for government and corporate expansion.

Trading volumes also hit record levels, supported by strong activity in both the primary and secondary markets.

The debt market remained resilient, with companies increasingly relying on capital market instruments amid high interest rates. Commercial paper issuances alone reached nearly N1 trillion, largely driven by private firms.

The positive momentum has extended into 2026, with equities valuation approaching N100 trillion despite early year spending pressures. Analysts, however, caution that the year presents a mix of opportunities and risks.

As a pre election year, 2026 will see heightened political activity alongside the first full implementation of new capital market and tax laws. While the reforms are expected to strengthen regulation, analysts warn that policy interpretation and execution could influence investor sentiment, especially foreign portfolio flows.

Market watchers are also focusing on banking and insurance sector recapitalisation, which is expected to drive equity issuances, mergers and acquisitions in the first half of the year.

Analysts say sustained policy stability and effective implementation will be critical in determining whether the market extends its rally or enters a period of adjustment.

By Oso Abidemi 

Rimini Abarshi Adeyanju, Founder and Chief Executive Officer of Mini Option Consulting Ltd, has reaffirmed her commitment to people-centred business solutions, leadership development, and community impact.

Adeyanju, a business professional and human resources consultant, said Mini Option Consulting is driven by the belief that people are the foundation of every successful organisation.

The firm provides recruitment, outsourcing, and workforce solutions aimed at helping businesses grow sustainably through integrity, professionalism, passion, teamwork, and continuous development.

Beyond her professional work, Adeyanju highlighted her humanitarian efforts, revealing that she has run a food-sharing initiative for the past four years to improve access to affordable food and support vulnerable members of society.

She described the initiative as a journey rooted in consistency, community, and giving back.

She also expressed passion for lifelong learning, leadership, and creating meaningful impact both in business and everyday life, noting that her platform will focus on HR insights, entrepreneurship, career growth, and community initiatives.

Adeyanju said she looks forward to connecting and collaborating with like-minded individuals and organisations, describing her space as one where purpose, people, and professionalism meet.

By Huldah Shado

The Federal Inland Revenue Service (FIRS), has clarified that the National Identification Number (NIN), now automatically serves as the Tax Identification Number (TIN), for individual Nigerians.

The clarification was issued on Monday via a public awareness campaign on the Service’s official X handle, addressing concerns over new tax laws requiring a Tax ID for certain transactions, including banking activities.

FIRS also explained that registered businesses no longer need a separate TIN, as their Corporate Affairs Commission (CAC), registration number will serve as their tax identifier.

According to the Service, the provision is contained in the Nigeria Tax Administration Act (NTAA), scheduled to take effect from January 2026, though the requirement for a Tax ID has existed since the Finance Act of 2019.

“The Tax ID unifies all tax identification numbers previously issued by FIRS and State Internal Revenue Services into a single identifier,” the agency said, adding that no physical card is required.

FIRS said the reform aims to simplify identification, reduce duplication, curb tax evasion and improve transparency in tax administration, urging Nigerians to ignore misinformation surrounding the policy.