The United Kingdom’s Foreign, Commonwealth, and Development Office (FCDO) have expressed their commitment to collaborating with the Nigerian Exchange Limited (NGX) to facilitate more dual listings and strengthen investment ties. The UK government announced the MOBILIST partnership with the NGX, aimed at encouraging increased investment in sustainable development through listed products on the Exchange.
The Secretary of State for Foreign, Commonwealth, and Development Affairs, Rt. Hon. James Cleverly, highlighted the presence of dual-listed companies like Seplat Petroleum Plc and Airtel Africa Plc and expressed optimism for more dual listings in the future.
The UK government’s commitment to achieving Climate Neutrality by 2050 and its transition to renewable energy sources was commended by NGX’s Chairman, Umaru Kwairanga. He emphasized NGX’s dedication to fostering stronger partnerships and collaborations with the UK.
NGX’s CEO, Temi Popoola, echoed this sentiment and emphasized the importance of the UK’s contributions across various sectors of the Nigerian capital market. Both parties aim to expand digital transformation, deepen capital flows, and promote sustainability and climate change mitigation in the capital market.
Opinion
The collaboration between the UK and Nigerian Exchanges to boost dual listings and sustainable investments is a positive step towards enhancing economic growth and development in Nigeria. Dual listings can attract more international investors, providing access to capital and expanding the market’s reach. Additionally, the focus on sustainable development aligns with global efforts to address environmental challenges and promote responsible investing. The partnership between the two exchanges has the potential to unlock Nigeria’s economic potential, fostering prosperity and job opportunities for its citizens.