Additionally, the UK government announced a collaboration with the Exchange called Mobilizing Institutional Capital Through Listed Product Structures (MOBILIST), which would enable increasing investment in sustainable development in Nigeria through goods listed on the Exchange.
These were revealed by Rt Hon. James Cleverly, UK Secretary of State, FCDO, at the Tuesday Closing Gong Ceremony held on the NGX floor.
It was cleverly observed that NGX, through its operations, has a gravitational and attractive force to attract investment, noting that investment fuels economic activity, generates profit, unlocks economic potential, and feeds through jobs and prosperity for common people both here in Nigeria and outside of Nigeria.
The UK government, he said, would love to see more dual listings, but if developing nations are to have a realistic chance of reaching their sustainability objectives, they must get at least $3.9 trillion in additional funding.
According to him, the investment would assist Nigeria's economy in reaching its full potential, and the U.K. government will work with the NGX to promote listings and capital market investment in addition to maintaining its current links with Nigeria.
Alhaji (Dr) Umaru Kwairanga, the chairman of Nigerian Exchange Group Plc, praised the UK's ambition to achieve climate neutrality by 2050 and its efforts in switching to renewable energy sources. He noted, “NGX remains fully committed to further strengthening its existing relationship with the UK by fostering even stronger partnerships and collaborations.”
The U. K.'s contributions and relevance are apparent across all sectors of the Nigerian capital market, according to NGX CEO Temi Popoola. “We will continue to work with the U.K government on expanding the digital transformation process, deepening capital flows into our markets, promoting sustainability and climate change mitigation in the capital market”, Popoola stated.
