NGX Aims for 250 Listings by 2036, Says Taiwo Oyedele

The Nigerian Exchange Limited (NGX) currently has 146 listed companies and aims to increase this number to 250 by 2036, representing a 71.2 percent increase. Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, announced this target at the National Capital Market Conference 2026 in Abuja.

The initiative is part of the proposed Nigerian Capital Market Master Plan 2026–2036, which also seeks to raise equity market capitalisation from 33 percent of gross domestic product to at least 60 percent and expand retail investor participation from six million to 20 million. Osita Izunaso (Imo West), Chairman of the Senate Committee on Capital Market, noted that Nigeria has over five million registered companies but only about 151 are listed.

In 2024, 17 companies raised N6.135 trillion through new equity issues, with Aradel Holdings (NGX: ARADEL) and Transcorp Power (NGX: TRANSPOWER) being significant new entrants. The NGX has introduced a Growth Board to lower entry barriers for companies looking to list.