The Tinubu Media Support Group (TMSG) has used the first quarter revenue figures from 20 companies listed on the Nigerian Exchange Limited (NGX) to push back against what it described as a deliberate campaign by the opposition to misrepresent the state of the Nigerian economy.
TMSG, in a statement jointly signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, said the collective N6.61trillion revenue posted by the 20 NGX-listed in the three months to March 31, 2026 was heartwarming and pointed to a booming business environment under the current administration.
The companies are from sectors including manufacturing, petroleum marketing, power generation, telecommunications and brewing. TMSG said that their combined performance represented an 11.7% increase over the 5.9trillion recorded by the same group in the first quarters of 2025.
“This is a clear statement about the success of the ongoing economic reforms of the President Bola Tinubu administration,” the group said. “What this means is that the economy is good enough for business to thrive.”
TMSG directly challenged opposition politicians who have argued that Nigerians are worse off under the current administration, questioning how companies could generate such revenues in an economy described as being on the verge of collapse.
“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?” the statement read.
TMSG also argued that the revenue figures indicated an expansion of purchasing power among ordinary Nigerians, dismissing opposition commentary as politically motivated rather than grounded in economic reality.
The group acknowledged that the broader impact of improving macroeconomic conditions had yet to be fully felt at the grassroots level, but expressed confidence positive trends would filter down to citizens over time.
TMSG urged Nigerians to remain patient and to trust in the President’s capacity to deliver on his administration’s stated ambition of growing Nigeria into a one trillion-dollar economy by 20230.
