The Nigerian capital market has created an estimated 500,000 to 900,000 millionaires through investments in the Nigerian stock market.
Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola said this while presenting the Nigerian Exchange Group’s wishlist to President Bola Ahmed Tinubu, including a proposal for major Nigerian companies such as Eleme Petrochemicals, Nigeria LNG Limited (NLNG), and the Nigerian National Petroleum Company Limited (NNPCL) to be listed on the Nigerian stock market.
According to him, expanding the number of major Nigerian companies listed on the exchange would improve the capital market, create more investment opportunities for Nigerians and increase wealth creation.
“We estimate that somewhere between 500 thousand to 900 thousand millionaires have been created in this country in the Nigerian stock market,” Popoola said.
He stressed the importance of encouraging more large Nigerian companies to access the capital market, noting that increased listings would provide citizens with opportunities to participate directly in the growth and profitability of major businesses operating within Nigeria.
Popoola therefore urged the Federal Government to support the listing of Eleme Petrochemicals, NLNG and NNPCL on the Nigerian Exchange.
