Home News UK Govt. Pledges Deeper Investment Relationship With NGX

UK Govt. Pledges Deeper Investment Relationship With NGX


Lagos, – The United Kingdom (UK) through its Foreign, Commonwealth and Development Office (FCDO), says it will continue to focus on building future investment links and collaborate with the Nigerian Exchange Ltd. (NGX).

Mr James Cleverly, UK Secretary of State, FCDO, said this during the Closing Gong ceremony held on the floor of the NGX on Tuesday in Lagos.

Cleverly said that the collaboration would ensure that Nigeria’s economic potential is unlocked.

He stated that the UK government had began Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) partnership with the NGX.

According to him, this will facilitate increased investment in sustainable development in Nigeria through products listed on the Exchange.

“NGX, through its activities, has a gravitational and attractive force to attract investment, as investment fuels the economic activity and generates profit.

“Investment also unlocks the economic potential and feeds through jobs and prosperity for ordinary people here in Nigeria and outside the country,” he said.

According to him, the UK government will love to see more of dual listings.

Cleverly said that developing countries needed at least 3.9 trillion dollars in additional financing if they would have credible chance of achieving their sustainability goals.

He noted that the investment would help to unlock the economic potential of Nigeria.

He said that the UK government would not only keep hold of its existing ties with Nigeria, but will collaborate with the NGX to attract listings, as well as investment in the capital market.

Commenting, Chairman, NGX Group Plc, Alhaji Umaru Kwairanga, commended the UK’s commitment to attaining Climate Neutrality by 2050 and its progress in transitioning into renewable energy sources.

Kwairanga said that the NGX remains fully committed to further strengthening its existing relationship with the UK by fostering even stronger partnerships and collaborations

In his remark, the Chief Executive Officer, NGX, Mr Temi Popoola, stated that the UK’s inputs and importance is evident across the verticals of the Nigerian capital market.

Popoola said: “We will continue to work with the UK government on expanding the digital transformation process, deepening capital flows into our markets, promoting sustainability and climate change mitigation in the capital market. (NAN)

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