Capital Market Stakeholders Back Tinubu’s Reforms, Urge Companies To List On NGX

The Nigerian capital market stakeholders supported the federal government’s reforms and encouraged more companies to list on the Nigerian Exchange (NGX).

They cited the potential of the capital market to transform businesses and democratize wealth.
A delegation of Nigerian capital market stakeholders, including Nonso Okpala, the group managing director of VFD Group Plc, met with the President yesterday on the sidelines of his state visit to Brazil.
Okpala highlighted the success of VFD Group’s listing on the NGX, which has led to significant business growth and increased investment in the Nigerian economy.

He described NGX as the backbone of the economy and pointed to his company’s listing two years ago as proof of the market’s potential to transform businesses.

According to Okpala, when we got listed two years ago, most people were not betting on Nigeria or the capital market. We saw the vision, and we keyed into it. The president’s policies have accelerated that vision. Our business has grown significantly, and we are investing even more in the Nigerian economy.

He commended the Tinubu administration’s reforms, including the unification of exchange rates and new tax policies, as bold steps that have boosted market confidence and strengthened the investment climate.

“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 added.

He disclosed that “the meeting in Brazil added a capital market perspective to Tinubu’s state visit, which has already produced agreements in trade, aviation, finance, science and diplomacy. Observers note that the engagement shows how the President is linking international diplomacy with domestic market confidence.”

Okpala added that “the best is yet to come for the Nigerian economy. We will continue to diversify and invest strongly, backed by the vision of this administration.”