NIGERIA CAN DRIVE AFRICA’S LARGEST EXCHANGE — POPOOLA

The Director General of the Nigerian Exchange Limited (NGX), Mr. Temi Popoola, has reiterated that Nigeria possesses the resources and potential to host and drive Africa’s largest capital market exchange.

Popoola made the statement on Friday while speaking at the closing session of the Africa Capital Markets Conference. He highlighted Nigeria’s large economy, demographic advantage, and growing entrepreneurial ecosystem as key drivers that can propel the country to the forefront of Africa’s capital market development.

“With the right policies and continued reforms, Nigeria can become the financial nerve centre of Africa. Our exchange has the capacity to lead the continent in market depth, innovation, and investor participation,” Popoola said.

He called for greater harmonisation of regulations across African markets, increased cross-border listings, and the development of new financial products to attract both local and international investors. Popoola also emphasised the importance of technology adoption and investor education in deepening the market.

The conference, which attracted participants from several African countries, focused on strategies to enhance capital market integration and promote economic growth across the continent. Many speakers agreed that Nigeria’s market has the scale and potential to serve as a hub for regional capital flows.

Popoola assured that the NGX is committed to implementing reforms that will improve market efficiency, transparency, and attractiveness. He said the exchange is working on initiatives to reduce transaction costs, enhance liquidity, and support the listing of more companies, including small and medium enterprises.

The statement is seen as a rallying call for stakeholders to work together towards building a more robust and integrated African capital market, with Nigeria playing a leading role. The NGX is expected to continue its efforts to strengthen its position and contribute to the continent’s economic development