The Federal Government says it will continue to engage and collaborate with the Nigerian Exchange Group (NGX Group) and the private sector to transform the economy and improve the welfare of Nigerians.
President Muhammadu Buhari said this at the launch of the NGX Group’s campaign, “Stock Africa is Made of,” on Tuesday.The virtual event was held to amplify the NGX Group’s positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world.
Buhari said the campaign would further project Nigeria and Africa in a positive narrative and showcase its great potential. Speaking on the successful demutualisation exercise, he said, it would project the NGX to a new positioning and commitment to Africa’s financial markets as a leading capital market infrastructure provider which would connect Nigeria, Africa in the world.
“The history of the exchange is tied to the nation itself as it was founded 61 years ago, in which by 1960, Nigeria had gained independence.“The exchange continues to play its part in nation building by stimulating economic growth. Our administration will continue to listen, engage and collaborate with the private sector with the aim of improving lives and transforming our nation. This is a proud moment for all of us and has brought about the democratisation of important institutions such as the exchange,” Buhari said.
He noted that the demutualisation would make NGX more competitive like many of its peers in the world.Mr Temi Popoola, the Chief Executive Officer, Nigerian Exchange Ltd., in his welcome address, said the exchange had over the years served as key catalyst to economic growth. Popoola said: “The group has served as a key catalyst to the growth of the Nigerian economy since establishment in 1960. “Partnerships have been a critical element in our strategy, thus enabling us to contribute to sustainable economic development.
“Over the years, we have leveraged on the collaborative business environment instituted by his Excellency, to accelerate sustainable economic growth and development for the benefit of Nigerians.
“Some of such partnerships includes, collaboration with the Federal Ministry of Finance, Ministry of Environment and the Debt Management Office among others,” he said. Popoola thanked the President for creating an enabling environment for the exchange to function. Mrs Tinuade Awe, the Chief Executive Officer, NGX Regulations, in her remarks, thanked stakeholders and the investing public for believing and standing by the exchange over the years.