The Nigerian Exchange Group (NGX) has reiterated its ambition to deepen Nigeria’s capital markets through increased product offerings, expanded listings, and stronger global partnerships.
Chairman of NGX, Dr Umaru Kwairanga, disclosed this during a strategic engagement with executives of the Brazil Stock Exchange and Over-the-Counter Market (B3) in São Paulo on Sunday.
Kwairanga highlighted that NGX, which has been operating for over six decades, currently hosts more than 400 listed securities with a combined market capitalisation approaching N100 trillion. He admitted that while the figure remains modest compared with B3’s one trillion-dollar market size, the Nigerian Exchange is committed to growth through international collaboration and innovative strategies.
He recalled that four years ago, the Exchange transitioned from a mutual company limited by guarantee into a publicly listed profit-driven entity, introducing new governance and regulatory challenges alongside opportunities for expansion.
Commending B3’s century-long track record, Kwairanga pointed to the exchange’s successful adoption of advanced technology and modernised regulations, which boosted its investor base to millions. “We are eager to learn from B3’s expertise in developing vibrant online trading systems, establishing world-class regulatory frameworks, and expanding listings,” he said.
The NGX chairman also noted the shared economic similarities between Nigeria and Brazil, including large populations, resource wealth, and growth potential, which he said provide fertile ground for cooperation.
“In today’s interconnected global markets, partnerships and knowledge exchange are critical to driving sustainable growth,” Kwairanga stressed. “This visit is about learning, sharing, and collaborating to achieve mutual benefits for both exchanges.”
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