The United Kingdom (UK) has reaffirmed its commitment to fostering future investment links with Nigeria and collaborating with the Nigerian Exchange Limited (NGX) to unlock Nigeria’s economic potential.
The UK government announced the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) partnership with NGX during the Closing Gong Ceremony on the NGX floor.
Rt Hon. James Cleverly, UK Secretary of State for Foreign, Commonwealth, and Development Office (FCDO), expressed the UK’s interest in supporting sustainable development in Nigeria through investments in products listed on the Exchange.
He emphasized the significant role NGX plays in attracting investment, driving economic activity, generating profits, and creating job opportunities and prosperity for Nigerians and beyond.
The partnership aims to promote increased investment in Nigeria, as developing countries require an estimated $3.9 trillion in additional financing to achieve their sustainability goals.
Cleverly highlighted the importance of investment in unlocking Nigeria’s economic potential, and he expressed the UK government’s commitment to nurturing existing ties and collaborating with NGX to attract more listings and investment in the capital market.
Commending the UK’s dedication to achieving Climate Neutrality by 2050 and transitioning to renewable energy sources, Alhaji (Dr) Umaru Kwairanga, Chairman of Nigerian Exchange Group Plc, said, “NGX remains fully committed to further strengthening its existing relationship with the UK by fostering even stronger partnerships and collaborations.”
Temi Popoola, Chief Executive Officer of NGX, recognized the UK’s significant contributions to various verticals in the Nigerian capital market. “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.
