The Chairman of NGX Group, Alhaji Dr. Umaru Kwairanga, has revealed that the alternate is working towards securing listings from the oil and fuel sector, an initiative that might see main gamers like Dangote Petrochemicals and NNPC provide stakes to the general public.
Alhaji Umaru made this announcement at a symposium held in Kano State, Nigeria, themed “Reimagining Nigeria’s Economic system for a Affluent Future: The place We Have been, The place We Are, and The place We Ought to Be within the Subsequent Decade.”
In response to him, enabling these corporations to listing their shares would considerably increase the market capitalization of the All-Share Index, additional strengthening the home capital market.
He famous {that a} bigger and extra dynamic capital market would align with President Bola Tinubu’s formidable purpose of rising Nigeria’s GDP to at least one trillion {dollars} by 2030.
“When President Tinubu revealed his imaginative and prescient for Nigeria to develop its GDP to not less than one trillion {dollars} by 2030, we keyed into that imaginative and prescient and are decided that the capital market will likely be on the centre of that drive to a trillion greenback financial system and that our indices will develop in tandem with that imaginative and prescient,” he stated.
The Chairman additionally identified that the present market capitalization continues to be under 20% of the nation’s GDP, in distinction to South Africa, the place the Johannesburg Inventory Trade’s market cap exceeds the nation’s GDP.
Reflecting on his achievements since taking workplace in October 2022, he shared:
“On that fifth day of October 2022, the All-Share Index was at 48,837 foundation factors and market capitalization stood at N26.375 trillion. As on the finish of Could 2025, the ASI had climbed to 111,742 foundation factors and market capitalization reached N70.463 trillion.”
He added that if bonds are included, the overall capitalization could possibly be estimated at N121 trillion, pushed by new and modern measures geared toward boosting market effectivity and attracting a youthful technology of buyers.
Alhaji Dr. Umaru Kwairanga emphasised that one in all NGX Group’s prime priorities is bettering market effectivity and adaptability. He famous that the alternate is working intently with the Securities and Trade Fee (SEC) to hurry up transactions and improve transparency within the capital market.
“We’re specializing in key areas such because the dematerialization of share certificates, resolving the backlog of unpaid dividends, and decreasing the time it takes for main points to succeed in the market,” he stated.
Regardless of the macroeconomic challenges the nation confronted in 2024, Alhaji Umaru famous that efforts to enhance market effectivity led to elevated investor participation and contributed to the expansion of the All-Share Index and the broader home market.
The Nigerian inventory market, as measured by the All-Share Index (ASI), delivered a powerful efficiency in 2024, posting a formidable year-to-date acquire of 37.65%. This marked the fifth consecutive 12 months of bullish momentum on the home bourse.
That constructive pattern has continued into 2025, with the ASI recording a year-to-date progress of 11.36% to date.
To date, the All-Share Index stands at 114,616.75 factors, with a market capitalization of N72.28 trillion, reflecting sustained investor confidence.
