NGX Chairman Umaru Kwairanga eyes Dangote Petrochemicals, NNPC listings in 2025
The Chairman of NGX Group, Alhaji Dr. Umaru Kwairanga, has revealed that the trade is working towards securing listings from the oil and gasoline sector, an initiative that would see main gamers like Dangote Petrochemicals and NNPC provide stakes to the general public.
Alhaji Umaru made this announcement at a symposium held in Kano State, Nigeria, themed “Reimagining Nigeria’s Economic system for a Affluent Future: The place We Had been, The place We Are, and The place We Ought to Be within the Subsequent Decade.”
Based on him, enabling these firms to record their shares would considerably enhance the market capitalization of the All-Share Index, additional strengthening the home capital market.
He famous {that a} bigger and extra dynamic capital market would align with President Bola Tinubu’s formidable aim of rising Nigeria’s GDP to 1 trillion {dollars} by 2030.
“When President Tinubu revealed his imaginative and prescient for Nigeria to develop its GDP to not less than one trillion {dollars} by 2030, we keyed into that imaginative and prescient and are decided that the capital market will likely be on the centre of that drive to a trillion greenback financial system and that our indices will develop in tandem with that imaginative and prescient,” he stated.
The Chairman additionally identified that the present market capitalization continues to be beneath 20% of the nation’s GDP, in distinction to South Africa, the place the Johannesburg Inventory Alternate’s market cap exceeds the nation’s GDP.
Reflecting on his achievements since taking workplace in October 2022, he shared:
“On that fifth day of October 2022, the All-Share Index was at 48,837 foundation factors and market capitalization stood at N26.375 trillion. As on the finish of Could 2025, the ASI had climbed to 111,742 foundation factors and market capitalization reached N70.463 trillion.”
He added that if bonds are included, the full capitalization may very well be estimated at N121 trillion, pushed by new and modern measures geared toward boosting market effectivity and attracting a youthful era of buyers.
Elevated market effectivity and suppleness
Alhaji Dr. Umaru Kwairanga emphasised that one among NGX Group’s high priorities is enhancing market effectivity and suppleness. He famous that the trade is working carefully with the Securities and Alternate Fee (SEC) to hurry up transactions and improve transparency within the capital market.
“We’re specializing in key areas such because the dematerialization of share certificates, resolving the backlog of unpaid dividends, and decreasing the time it takes for major points to succeed in the market,” he stated.
- Alhaji Umaru pointed to the launch of the NGX Make investments app in 2024 as a significant milestone. The app, he stated, performed a major function within the first part of the {bank} recapitalization programme and helped drive broader market participation all year long.
- He added that the capital market is actively partaking massive institutional buyers reminiscent of pension and mutual funds by providing tailor-made merchandise like exchange-traded funds (ETFs), derivatives, and moral funding choices to satisfy their wants.
- As well as, he talked about that cross-border initiatives are underway to permit buyers in different African nations to entry and put money into Nigeria’s capital market, additional increasing its attain.
Regardless of the macroeconomic challenges the nation confronted in 2024, Alhaji Umaru famous that efforts to enhance market effectivity led to elevated investor participation and contributed to the expansion of the All-Share Index and the broader home market.
Market Development: All-Share Index
The Nigerian inventory market, as measured by the All-Share Index (ASI), delivered a robust efficiency in 2024, posting a powerful year-to-date achieve of 37.65%. This marked the fifth consecutive 12 months of bullish momentum on the home bourse.
That constructive pattern has continued into 2025, with the ASI recording a year-to-date progress of 11.36% thus far.
- The index opened the 12 months at 102,928.6 factors and maintained a constructive trajectory by January and February, closing February at 107,821.4 factors.
- A market correction started in March and prolonged into April, culminating in a pointy single-day drop of 1,295.02 factors on April 7, 2025.
- Regardless of this pullback, robust bullish sentiment returned in Could, propelling the index previous the 110,000 mark for the primary time in historical past and pushing market capitalization above N70 trillion.
To this point, the All-Share Index stands at 114,616.75 factors, with a market capitalization of N72.28 trillion, reflecting sustained investor confidence.
