The Chairman of the Nigerian Exchange (NGX) Group, Alhaji Dr. Umaru Kwairanga, has expressed optimism about the growth of Nigeria’s capital market, aligning with President Tinubu’s vision of growing the country’s GDP to at least $1 trillion by 2030.
Speaking at the “For the Love of Our Country” (FLOC) 2025 symposium in Kano, Kwairanga highlighted the progress made by the NGX Group since October 2022, with the All Share Index (ASI) more than doubling from 48,837 basis points to 111,742 basis points as of May 2025.
He stated that the market capitalization of the NGX Group has also increased significantly, reaching over ₦121 trillion as of May 30, 2025, with equity and bond markets valued at over ₦70.463 trillion and ₦50.577 trillion, respectively.
Kwairanga attributed this growth to the NGX Group’s efforts to deepen and broaden the market, working closely with regulators, particularly the Securities and Exchange Commission (SEC).
“To further expand the capital market, the NGX Group is pursuing new listings in the public sector, oil and gas, and other sectors. The government has confirmed its intention to sell a stake in NNPC Limited, and the NGX Group is confident about the imminent listing of Dangote Petrochemicals. These transactions are expected to boost market capitalization and attract local and foreign investors.
“The NGX Group is also introducing digital innovations to attract young investors, including the NGX Invest digital platform for primary market offers”.
Additionally, “the group is enhancing the professionalism and skills of trading license holders through regular training courses at the X Academy and engaging in financial literacy outreach programs” Kwairanga said.
Despite challenges such as declining disposable income and poor infrastructure, Kwairanga expressed optimism that the NGX Group can overcome these obstacles and achieve its goal of a larger capital market that reflects Nigeria’s economic potential.
He added “The NGX Group is working towards creating a broader, deeper, more liquid, and sophisticated capital market that meets the needs of Nigerian and global investors”.
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