The Nigerian Exchange Group (NGX) has reaffirmed its determination to grow its market through product expansion, increased listings, and strategic global partnerships.
Chairman of the NGX, Dr Umaru Kwairanga, disclosed this during an engagement with the Brazil Stock Exchange and Over-the-Counter Market (B3) in São Paulo on Sunday.
Kwairanga, in a statement, noted that the NGX, established over 60 years ago, currently has more than 400 listed securities with capitalisation nearing N100 trillion.
He admitted the figure remained modest compared with B3’s capitalisation, stressing that NGX would increase its numbers through collaborations with international exchanges and entrepreneurial investors.
Kwairanga recalled that four years ago the NGX changed from a mutual company limited by guarantee to a profit-driven public entity owned by thousands of shareholders.
He explained that the transition introduced fresh challenges in governance, regulation, technology, market expansion, and profitability, while also creating new growth opportunities.
He praised B3’s century-long history and its success in modernising regulation and technology, which helped achieve a market capitalisation of about one trillion dollars with millions of investors.
“We are confident we can learn from B3’s experience in building a vibrant online trading system, instituting world-class regulation, and driving growth in listings.
“We therefore look forward to learning from you and partnering to advance rapidly,” Kwairanga said.
He observed that Nigeria and Brazil share similarities in diverse populations, abundant resources, and economic potential, making cooperation between the two Exchanges mutually beneficial.
Kwairanga stressed that in today’s competitive, borderless markets, partnerships and knowledge sharing are essential to sustaining growth.
“We are here to share, learn, and collaborate, and we expect tremendous benefits on both sides from this visit,” he added. (NAN)
