The Nigeria international was roundly praised for his solid performance on the left of midfield in the Gunners' 0-0 with Chelsea last weekend.
“I like the fact that he can play in tight areas, that he turns the game forwards, that he's very mobile," Wenger told the club website.
“We forget sometimes that Alex is still a very young player and that there's a lot more to come from him.
“There must be a lot more to come from him because he has more personality in the game now.
“We expect him to be more efficient in the final third offensively, because you feel there are goals in there and assists too.
“They have to come out. Add that to the fact that he allows the team to play very well and he will be a top-class player."