NASD Eyes Private Capital To Finance Growth Across Key Sectors

NASD Plc has said it is positioning itself as a key platform for mobilising private capital to finance Nigeria’s next phase of economic development in agriculture, energy, infrastructure, manufacturing, technology, real estate and the creative economy.

The alternative securities exchange said its new strategy is to expand beyond traditional securities trading into a broader capital-formation ecosystem that creates diversified and recurring revenue streams while delivering sustainable long-term value to investors.

Speaking at the Company’s 13th Annual General Meeting held in Lagos, the chairman of NASD, Olayimikah Bolo said NASD’s 2026 priorities would focus on market deepening, enterprise development, capital formation, digital innovation, increased investor participation and strategic partnerships.

“The Company would continue to strengthen governance, enterprise risk management and operational resilience as it builds the platform for its next stage of development,” Bolo said.

NASD believed its alternative-market infrastructure places it in a strong position to connect businesses seeking capital with investors searching for new opportunities.

During the review period ended December 31, 2025, market capitalisation increased by 105.83 per cent to N2.12 trillion, while trading volume surged 370.81 per cent to 14.03 billion shares. The NASD Securities Index also gained 18.02 per cent to 3,543.74, and the number of admitted securities rose from 44 to 46.

However, revenue remained broadly flat at N1.12 billion, while profit after tax declined by 36 per cent to N263.4 million. Fees and commission income dropped by 15 per cent to N915.9 million, although interest income rose sharply by 237 per cent to N206.9 million.

To address this, NASD said its preparing to undertake a rights issue, which it expects will provide additional capacity to execute its growth strategy, deepen market liquidity and support a more diversified business model.

The acting managing director, NASD, Chinwendu Ekeh said that “the Company is building additional channels through which that enlarged market can be monetised while the Company is also targeting expansion in Commercial Paper and Digital Securities.”

Following the AGM, NASD announced the appointment of Arese Ugwu as the managing director, subject to approval by the Securities and Exchange Commission (SEC). The appointment followed an executive search conducted by PwC.

Ugwu said her immediate focus would be on translating NASD’s market growth into stronger commercial performance by attracting quality issuers, deepening liquidity, expanding distribution and increasing investor participation.

“Nigeria has extraordinary businesses that need capital and investors searching for opportunities to create wealth. NASD has an opportunity to become one of the country’s most important platforms for connecting the two. Our market has grown significantly; our job now is to ensure that the economics of NASD grow with it,” Ugwu said.

Bolo, who stepped down as chairman, also announced Dr. Ore Sofekun as acting chairman.