NGX Advocates for Public Listings to Boost Nigeria's Economy

Temi Popoola, CEO of NGX Group, advocated for the public listing of major state-linked enterprises, including Nigeria LNG Limited (NLNG) and Indorama Eleme Petrochemicals Limited, during a visit to President Bola Tinubu at the State House in Abuja on Thursday. Popoola emphasized that such listings could deepen Nigeria's capital market, broaden wealth creation opportunities, and unlock economic value.

He referenced past government initiatives that positively impacted the capital market and suggested that strategic asset listings would expand investment opportunities for Nigerians. Popoola noted that some identified companies already have provisions for future listings, while others may need government support.

He highlighted that economic reforms under President Tinubu have reportedly created between 500,000 to 900,000 millionaires due to the stock market's strong performance since 2023. The total value of listed equities has surged from approximately N30 trillion to N160 trillion, with expectations to reach N230 trillion by the end of 2026.