Through the Commonwealth and Development Office (FCDO), the United Kingdom (UK) has said that it would keep concentrating on creating new investment connections and working with Nigerian Exchange Limited (NGX) to guarantee that Nigeria’s economic potential is unleashed.
The UK government has just announced a collaboration with the Exchange called Mobilising Institutional Capital Through Listed Product Structures (MOBILIST), which will enable increasing investment in sustainable development in Nigeria through goods listed on the Exchange.
These were revealed by James Cleverly, UK Secretary of State, FCDO, on Tuesday during the Closing Gong Ceremony that was place on the NGX floor.
Cleverly noted that NGX, through its activities have a gravitational and attractive force to attract investment noting that investment fuels the economic activity, generates profit and unlocks the economic potential and feeds through jobs and prosperity for ordinary people for here in Nigeria and outside Nigeria.
He added that with the UK government would love to see more of dual listings while adding that developing countries need at least $3.9 trillion in additional financing if it is going to have credible chance of achieving their sustainability goals. According to him, investment is going to help unlock the economic potential of Nigeria and the U.K government will not only keep hold of its existing ties with Nigeria but will collaborate with the NGX to attract listings as well as investment in the capital market.
Commending the United Kingdom’s commitment to attaining Climate Neutrality by 2050 and its progress in transitioning to renewable energy sources, Umaru Kwairanga, Chairman, Nigerian Exchange Group Plc said, “NGX remains fully committed to further strengthening its existing relationship with the UK by fostering even stronger partnerships and collaborations.”
On his part, Temi Popoola, Chief Executive Officer, NGX noted that the U.K’s inputs and importance is evident across the verticals of the Nigerian capital market.
“We will continue to work with the U.K government on expanding the digital transformation process, deepening capital flows into our markets, promoting sustainability and climate change mitigation in the capital market,”Popoola stated.
