Stakeholders in Nigeria’s capital market have thrown their weight behind President Bola Tinubu’s economic reforms and called on more companies to list on the Nigerian Exchange (NGX). They stressed that the capital market holds the potential to transform businesses, deepen investment opportunities, and democratize wealth creation in the country.
The call was made during a meeting between Nigerian capital market representatives and President Tinubu on the sidelines of his state visit to Brazil. Nonso Okpala, Group Managing Director of VFD Group Plc, highlighted the success of his company’s NGX listing, noting that it has fueled significant business growth and increased investor confidence in the Nigerian economy.
Okpala described the NGX as the “backbone of the economy,” recalling how VFD Group’s listing two years ago came at a time when many doubted Nigeria’s capital market potential. He credited the Tinubu administration’s policies—including the unification of exchange rates and new tax reforms—as key drivers that accelerated growth and improved the investment climate.
According to him, encouraging more companies to go public would strengthen the market, spread wealth creation, and unlock long-term value for both businesses and citizens. “What we are saying is that other companies should take a cue and bet on the Nigerian economy by getting listed. That is the true way of democratizing wealth and creating value for everybody,” he said.
Okpala added that the Brazil visit provided a platform to align international diplomacy with domestic market confidence. He maintained that with ongoing diversification and investment initiatives under the Tinubu administration, “the best is yet to come for the Nigerian economy.”
Source: Leadership