The Chairman of Nigerian Exchange Group, Umaru Kwairanga has called for the listing of viable state-owned enterprises as part of efforts to deepen liquidity and strengthen Nigeria’s capital market.
Kwairanga made the appeal in a statement on Saturday after a strategic engagement with industrialist Aliko Dangote on Friday, which focused on sustaining ongoing reforms and expanding market liquidity.
Participants at the meeting included Femi Otedola, Chairman of First Bank of Nigeria; Emomotimi Agama, Director-General of the Securities and Exchange Commission Nigeria; Omolola Oloworaran, Director-General of the National Pension Commission Nigeria; and Temi Popoola, Chief Executive Officer of Nigerian Exchange Limited.
Kwairanga noted that the country was at a critical stage of economic evolution that requires a stronger and more inclusive capital market capable of mobilising long-term capital.
According to him, the market must transition from merely reflecting economic cycles to actively driving national development.
He described the strategic listing of national assets in sectors such as power, infrastructure and natural resources as potentially transformative.
“Transparent listing of national assets through the stock exchange will improve accountability while mobilising domestic capital for development,” he said.
The NGX chairman added that partial privatisation through the exchange would not only raise market capitalisation but also strengthen corporate governance, making the market more attractive to both domestic and foreign institutional investors seeking transparency and scale.
He stressed that the strength of any market depends largely on the quality, diversity and governance standards of listed companies.
“Markets that attract large and well-governed companies enjoy greater liquidity, lower volatility and stronger foreign participation,” Kwairanga said.
To accelerate growth, he called for targeted fiscal incentives, including tax reliefs and reduced listing costs, to encourage more companies to go public.
He also advocated unlocking long-term institutional funds particularly pension assets to help stabilise market liquidity.
Kwairanga further urged improved regulatory efficiency, stronger investor protection frameworks and the expansion of derivatives products, noting that broader retail participation supported by investor education and digital platforms would enhance sustainable growth.
“The capital market must evolve into a strong platform for mobilising long-term capital and supporting broader economic transformation,” he said.
