The Group Chairman of Nigerian Exchange Group (NGX Group), Dr. Umaru Kwairanga, has called for stronger Nigeria-UAE capital market cooperation.
Kwairanga made this appeal during a visit to the Abu Dhabi Securities Exchange (ADX) on Friday.
He held discussions with the exchange’s board and management on investment opportunities.
In a statement to reporters, Kwairanga suggested that both markets could explore knowledge sharing and training programs.
He added that partnerships in product development and cross-border listings could enhance market integration.
“This aims to strengthen market ties between Africa and the Middle East,” he said.
Kwairanga noted that Nigeria’s capital market has experienced significant growth in recent years.
He stated that market capitalization and the benchmark index have more than doubled, reflecting renewed investor confidence.
The NGX chairman also disclosed Nigeria’s preparations for the upcoming Dangote Refinery IPO.
He described the refinery project as a continental venture with substantial investment potential.
“Nigeria is gearing up for the Dangote Refinery IPO, which is a major project for Africa,” he said.
He expressed strong interest in attracting Middle Eastern investors and suggested that roadshows for the IPO could be held in the UAE.
Discussions about a possible dual listing in a global financial center are also ongoing.
“Hopefully, the refinery, one of the largest in the world, will consider dual listing,” he added.
Kwairanga expressed optimism about active Middle Eastern investor participation through planned roadshows.
He attributed the rising investor interest partly to ongoing economic reforms by the Federal Government.
He recalled President Bola Tinubu’s earlier engagement with Abu Dhabi investors regarding Nigeria’s reforms.
The NGX chairman also highlighted the exchange’s role in the African Exchanges Linkage Project, which promotes intra-African trading and expands opportunities across the continent.
He expressed optimism that talks with ADX would lead to new collaboration opportunities, mentioning platforms like Tabadul as potential areas for cooperation.
Kwairanga praised the resilience of the UAE economy and capital market, noting that the country’s stability reflects strong leadership and solid foundations despite regional geopolitical tensions.
