United Kingdom to enhance and strengthen investment ties with NGX
The United Kingdom (UK), via its Foreign, Commonwealth and Development Office (FCDO), has affirmed its commitment to further cultivating future investment connections and partnering with Nigerian Exchange Limited (NGX) to harness the economic potential of Nigeria.
Simultaneously, the UK government unveiled the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) initiative in collaboration with the Exchange. This partnership aims to foster heightened investment in sustainable development within Nigeria by means of products listed on the Exchange.
During the Closing Gong Ceremony at NGX on Tuesday, James Cleverly, the UK Secretary of State for the FCDO, revealed these insights.
Cleverly highlighted that NGX's endeavors possess a compelling and appealing influence that draws in investments. He emphasized that investments propel economic engagement, yield profits, unleash economic capabilities, and contribute to job creation and prosperity, both within Nigeria and beyond its borders.
He further emphasized the UK government's interest in seeing an increase in dual listings. He noted that developing countries require a minimum of $3.9 trillion in additional funding to have a credible opportunity to achieve their sustainability objectives. He emphasized that investment will play a pivotal role in unlocking Nigeria's economic potential. The UK government is dedicated not only to maintaining its current connections with Nigeria but also to partnering with NGX to attract listings and investments in the capital market.
Commending the United Kingdom's dedication to achieving Climate Neutrality by 2050 and its advancements in transitioning to renewable energy sources, Umaru Kwairanga, Chairman of Nigerian Exchange Group Plc, expressed, "NGX is fully committed to further enhancing its existing ties with the UK through the cultivation of even more robust partnerships and collaborations."
Speaking from his perspective, Temi Popoola, Chief Executive Officer of NGX, highlighted the clear and impactful contributions of the U.K. across various aspects of the Nigerian capital market.
"We remain committed to collaborating with the U.K. government in furthering our digital transformation initiatives, enhancing the influx of capital into our markets, and advancing sustainability and efforts to mitigate climate change within the capital market," stated Popoola.
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