The Nigerian Exchange Group has revealed plans to pursue new listings across key sectors, with a focus on the public, oil and gas industries.
NGX Group Chairman, Dr. Umaru Kwairanga, made the disclosure at the FLOC 2025 Summit in Kano, highlighting the Nigerian National Petroleum Company Limited and Dangote Petrochemicals as primary listing targets.
In an address delivered at the summit themed “Reimagining Nigeria’s Economy for a Prosperous Future: Where We Were, Where We Are, and Where We Should Be in the Next Decade,” Kwairanga revealed that the NGX is confident that Dangote Petrochemicals will be listed very soon.
He said, “We are pursuing new listings in the public sector, oil and gas and other sectors. The government has affirmed its commitment to sell a stake in NNPC Limited and we are confident of listing Dangote Petrochemicals very soon.
“These are transactions that will increase our market capitalisation geometrically and attract many local and foreign investors to invest in the market.”
According to him, Nigeria’s economic trajectory over the decades has been shaped by global market dynamics, domestic policy shifts, and, most importantly, the resilience of its people.
“Today, we find ourselves at a critical juncture—recovering from periods of volatility, recalibrating our priorities, and setting our sights on transforming Nigeria into a $1 trillion economy.
“But as history has shown across the globe, no country has made the leap to economic prosperity without a vibrant and inclusive capital market at its core. When we examine successful economic transformations across markets such as South Korea, Singapore, and Rwanda, one consistent factor remains: the presence of deep, liquid, and accessible capital markets that serve as engines of sustained growth,” he noted.
The NGX Chairman stated that upon assuming office in October 2022, one of his primary goals was to deepen and broaden the market—an objective the Exchange has pursued assiduously. On October 5, 2022, the All-Share Index (ASI) stood at 48,837 basis points, with a market capitalisation of ₦26.375 trillion.
However, he noted that by the end of May 2025, the ASI had risen to 111,742 basis points, while market capitalisation reached ₦70.463 trillion.
Kwairanga noted that significant progress had been made, with market indices more than doubling over the past few years.
However, he emphasized that the NGX’s current goal is even more ambitious.
“When President Tinubu revealed his vision for Nigeria to grow its GDP to at least one trillion dollars by 2030, we keyed into that vision and are determined that the capital market will be at the centre of that drive to a trillion-dollar economy and that our indices will grow in tandem with that vision.
“Why is a much bigger Nigerian capital market an imperative? A thriving capital market encourages the savings and investment that are key to rapid economic growth. It helps to finance much needed infrastructure as it matches long term funds with projects that need long term finance.
“A bigger capital market will encourage formalisation and proper structuring of businesses which will in turn aid better performance and enable such businesses contribute in measurable ways to the Nigerian economy,” the NGX Chairman said.
