NGX Raises Over N3.85 Trillion for Government and Corporates in 2023

The Nigerian Exchange Limited (NGX) facilitated the raising of over N3.85 trillion by government and corporate entities in 2023.

Mr. Jude Chiemeka, the Acting CEO of NGX, highlighted the role of the stock market in enabling capital formation and investment across various sectors.

Chiemeka further explained the substantial contributions made by the top five listed companies to the economy.

According to him, the top five listed companies paid over N362 billion in taxes to the federal government and disbursed N962 billion as dividends to shareholders.

He emphasized the market’s resilience in providing stakeholders with a robust platform for capital raising and investment opportunities.

The NGX’s commitment to enhancing corporate governance and investor confidence was evident in its efforts to tailor products and services to meet the evolving needs of market participants.

Chiemeka reiterated NGX’s dedication to positioning itself as the premier exchange in Africa, offering diverse investment avenues such as equities, fixed income securities, derivatives, Mutual Funds, and Exchange Traded Funds (ETFs).

Under Chiemeka’s leadership, NGX continued to advocate for regulatory reforms and prioritize stakeholder engagement with the Nigerian government.

The exchange’s investments in technology aimed at ensuring seamless transaction experiences for investors demonstrated its commitment to operational excellence and customer satisfaction.

Chiemeka’s remarks emphasized the NGX’s role as a dependable platform for long-term investing and innovation, reflecting its dedication to fostering a dynamic capital market environment.

The substantial capital raised in 2023 signifies NGX’s pivotal contribution to economic growth and development in Nigeria.