The Nigerian Exchange Group (NGX) has reaffirmed its commitment to expanding the market through product innovation, increased listings, and strategic international partnerships.
Chairman Dr Umaru Kwairanga made the disclosure during a meeting with the Brazil Stock Exchange and Over-the-Counter Market (B3) in São Paulo.
Kwairanga noted that NGX, established over 60 years ago, currently hosts more than 400 listed securities with a total capitalisation approaching N100 trillion. While acknowledging that this figure remains modest compared with B3’s market value, he said NGX intends to grow its listings through collaborations with global exchanges and entrepreneurial investors.
He recalled that four years ago NGX transitioned from a mutual company limited by guarantee to a profit-driven public entity owned by thousands of shareholders. The change introduced new challenges in governance, regulation, technology, market expansion, and profitability while also opening opportunities for growth.
Kwairanga praised B3’s century-long history and its achievements in modernising regulation and technology, which have contributed to a market capitalisation of roughly one trillion dollars and millions of investors.
“We are confident we can learn from B3’s experience in developing a vibrant online trading system, instituting world-class regulation, and increasing listings. We look forward to learning from you and partnering to advance rapidly,” he said.
He also 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 crucial to sustaining growth. “We are here to share, learn, and collaborate, and we anticipate significant benefits on both sides from this visit,” he added.