The Nigerian Exchange Group (NGX) is preparing to list Dangote Petrochemicals, a move expected to boost market capitalization and support President Tinubu’s goal of expanding Nigeria’s GDP to $1 trillion by 2030. NGX Chairman Dr. Umaru Kwairanga emphasized the importance of strategic listings like Dangote Petrochemicals and NNPC Ltd. in deepening the capital market. He confirmed that Dangote has applied for the listing, which is targeted for completion by the end of Q2.
NGX Chairman Dr. Umaru Kwairanga emphasized the need for a stronger capital market to support infrastructure development and reflect Nigeria’s economic potential. He noted that Nigeria’s stock market capitalization is still below 20% of GDP, compared to South Africa’s market, which exceeds its GDP.To improve market performance, NGX and the SEC have introduced reforms such as share dematerialization, clearing time reduction to T+2, and resolving unpaid dividends. Kwairanga also highlighted the importance of digital innovation, citing the launch of NGX Invest to boost financial literacy and inclusion.
NGX is also targeting institutional investors and expanding offerings with ETFs, derivatives, and ethical investment products.Regional Integration & Market PerformanceNGX is pushing for cross-border trading with other African markets like Ghana to build a stronger, connected financial ecosystem.Despite challenges, NGX remains confident in Nigeria’s market potential.Key Highlight:In May 2025, NGX posted Africa’s second-best return at 5.62%, outperforming major exchanges except Nairobi, which led with 6.4%.
