Dr. Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group, has alluded to the idea of a dual listing with the Saudi Exchange while highlighting how President Bola Tinubu’s economic reforms have made it possible for foreign investment to enter the nation.
Speaking on the fringes of the Saudi-African Summit in Riyadh, Kwairanga said that the gathering offered a chance to explore collaboration between the Saudi government and Nigerian enterprises.
He claimed that Nigeria had a chance to present itself at the summit and that the new government had implemented reforms.
“We believe that we have opportunities to showcase what we have to Africans,” he stated, citing his people and many other benefits.
He was upbeat about the prospects in the NGX despite the lack of foreign exchange (FX). “We had a conversation on dual listing between NGX and the Saudi Stock Exchange. We discussed how our largest corporations quoted on NGX will use it in our conversation with the Environment Minister and his representatives.”
“We plan to list businesses on the NGX, such as Aramco. When it comes to dual listings, we want to do for the Saudi Stock Exchange what we did for the London Stock Exchange (LSE). We met with the NASDAQ President last month. We talked about a plethora of business opportunities. Therefore, I think this government is doing a lot of reforming, and it will draw a lot of investors into the Nigerian economy.”
He declared, “You can see how people have applauded Nigeria's delegates that have come for this conference. We need to come and showcase investors.”
