U.K. And Nigerian Stock Exchange to Deepen Partnership For Growth

The United Kingdom (UK) and the Nigerian Stock Exchange (NSE) have reiterated their commitment to improved partnership towards the development of the Nigerian capital market and the economy.

Nigeria is the second-largest destination for investments and U.K. businesses in Sub-Saharan Africa.

Deputy British High Commissioner, Lagos, Mr. Ben Llewellyn-Jones was at the NSE, now known as Nigerian Exchange (NGX) Limited, at the weekend, as part of the efforts to deepen the relationship between the U.K. and NGX. Llewellyn-Jones was given the privilege to ring the closing bell for the market.

Llewellyn-Jones said his priority was to continue to create enabling environment for the growth of business relations between U.K. and Nigeria, especially through the Nigerian capital market.

He noted that U.K. and NSE have historically been partners, pointing out that the U.K. has continued to build on the shared history between the U.K. and the Exchange, with the U.K. still very active in the Nigerian market.

“My role is to not only celebrate that but also to grow, encourage and sustain this level of participation. Although it has been a difficult year economically and financially, I am encouraged by the resilience, creativity and positive performance of British businesses and investments here in Nigeria and I am grateful for this opportunity to talk about how much the U.K. will continue to do to support Nigeria and British businesses in Nigeria,” Llewellyn-Jones said.

Chief Executive Officer, Nigerian Exchange (NGX) Limited, Mr Temi Popoola said it was historic that the British Deputy High Commissioner was the first person to beat the closing gong since the unbundling of the NSE and the renaming of its securities trading business as NGX.

According to him, since the birth of the Lagos Stock Exchange, the British High Commission has remained a partner and supporting institution throughout its journey.

“In the spirit of continued partnership, I welcome Mr. Llewellyn-Jones to the NGX as I look forward to deepening the partnerships between both organisations to further drive sustainable economic development for Nigeria and Africa as a whole,” Popoola said.

He noted that partnerships are a critical element of the NGX’s strategy as it will continue to engage stakeholders whose support is essential to the achievement of its aspirations in the post-demutualisation period.