NGX Chair Kwairanga Urges Listing of State-Owned Enterprises
The Chairman of Nigerian Exchange (NGX) Group, Dr. Umaru Kwairanga, has urged the listing of viable state-owned enterprises to deepen liquidity and strengthen Nigeria’s capital market.
Kwairanga made the call in a statement on Saturday, following a strategic engagement with industrialist Aliko Dangote, earlier on Friday. The engagement focused on sustaining reforms and expanding market liquidity.
Some of the participants included Femi Otedola, Chairman of FirstBank, and Emomotimi Agama, Director-General of the Securities and Exchange Commission.
Others were Omolola Oloworaran, Director-General of the National Pension Commission, and Temi Popoola, Chief Executive Officer of Nigerian Exchange Ltd. Kwairanga said Nigeria was at a critical stage of economic evolution requiring a stronger and more inclusive capital market.
He said the market must shift from passively reflecting economic cycles to actively driving national development and mobilising long-term capital.
According to him, strategic listing of viable national assets in power, infrastructure and natural resources would be transformative.
“Transparent listing of national assets through the stock exchange will improve accountability while mobilising domestic capital for development,” he said.
Kwairanga added that partial privatisation through the exchange would raise market capitalisation and strengthen corporate governance.
He said such reforms would attract domestic and foreign institutional investors seeking transparency and scale. He stressed that market strength depends on the quality, diversity and governance standards of listed firms.
“Markets that attract large and well-governed companies enjoy greater liquidity, lower volatility and stronger foreign participation,” he noted. The NGX chairman called for targeted fiscal incentives, including tax reliefs and reduced listing costs, to encourage more companies to go public.
He also called for unlocking long-term institutional funds, particularly pension assets, to stabilise liquidity.
Kwairanga urged improved regulatory efficiency, stronger investor protection, and expansion of derivatives products. He added that wider retail participation through investor education and digital platforms would support sustainable growth.
“The capital market must evolve into a strong platform for mobilising long-term capital and supporting broader economic transformation,” he said. #NGX Chair Kwairanga Urges Listing of State-Owned Enterprises Nigeria’s Digital Payment System Reaches a Defining Milestone
