NGX targets N300trn market cap, pushes for more listings
The Nigerian Exchange Group is targeting a N300 trillion market capitalisation and is pushing for more government-linked companies to list on the exchange. Read More:…
The Nigerian Exchange Group (NGX) has long sought to deepen Nigeria's capital market by attracting more companies, particularly large government-linked and privately held firms, to list their shares publicly. Market capitalisation — the total value of all listed shares — is a key gauge of how developed and liquid a stock exchange is, and Nigerian authorities have repeatedly flagged that too many big-ticket companies remain unlisted, limiting the depth of the market compared to peers like Johannesburg's exchange.
Both Punch and ThisDay report NGX's new N300 trillion market capitalisation target, with ThisDay attributing the projection directly to NGX Group Chairman Umaru Kwairanga and linking it to fresh listings expected to boost the market. Punch adds that the push includes encouraging more government-linked companies to go public. Neither report specifies a timeline for reaching the target, which firms are being courted, or what incentives — regulatory or otherwise — might be used to drive the new listings.