The Nigerian Exchange Limited (NGX) has played a pivotal role in raising over N3.85 trillion for government and corporate entities to fund various projects in 2023. Jude Chiemeka, the Acting Chief Executive Officer of NGX disclosed.
Chiemeka emphasized the significance of the stock market in enabling capital formation and investment in the economy. According to him, the substantial tax contributions from the top five listed companies amounted to over N362 billion, with N962 billion paid as dividends to the federal government.
“Our market continued to be resilient in providing stakeholders with a platform to raise capital and invest. Year to date, NGX has facilitated needed financing of more than N3.85 trillion in capital raised by governments and corporates across various asset classes,” Chiemeka said.
He affirmed the commitment of NGX to assisting issuers in deriving great value from their interactions with the market. The exchange aims to position itself as the African Exchange of choice by adopting rules to improve corporate governance among listed firms and offering products and services tailored to investor needs in a fair and orderly market.
Chiemeka highlighted the diverse investment opportunities provided by NGX, including equities, fixed income, derivatives, Mutual Funds, and Exchange Traded Funds (ETFs). This diversity underscores NGX’s commitment to offering a robust and efficient platform for investors across various asset classes.
The CEO emphasized the resilience and reliability of NGX, pointing out the exchange’s role in long-term investing and innovation. He reiterated NGX’s dedication to fostering a dynamic and responsive capital market through continuous investments in technology, ensuring a seamless and uninterrupted transaction experience for investors.
Chiemeka concluded by emphasizing the NGX’s advocacy efforts with the Nigerian government on behalf of listed corporates, focusing on tax reforms, foreign exchange allocation, and stakeholder engagement. He stressed that the exchange’s support for listed companies extends to enhancing investor and customer understanding of the unique benefits associated with investing in such companies.
