The Group Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has revealed plans for a potential dual listing with the Saudi Exchange. Speaking at the Saudi-Africa summit in Riyadh, Kwairanga emphasized the opportunities created by President Bola Tinubu’s economic reforms in Nigeria, making it an attractive investment destination.
According to Kwairanga, discussions have taken place regarding the dual listing of major Nigerian companies on the Saudi Stock Exchange. He highlighted the intention to bring companies like Aramco to be listed on the Nigerian Exchange (NGX), drawing parallels with the dual listings achieved with the London Stock Exchange (LSE).
The proposed dual listing aims to strengthen cooperation between the Saudi government and the Nigerian business environment. Kwairanga expressed optimism about the opportunities available on the NGX despite challenges such as foreign exchange scarcity. The move aligns with efforts to enhance international collaboration and attract foreign investments to Nigeria’s capital market.
