NGX seeks stronger Nigeria-UAE capital market ties

The Nigerian Exchange Group (NGX) has called for stronger Nigeria-United Arab Emirates capital market cooperation.

The NGX Group Chairman, Dr Umaru Kwairanga, made the call during a visit to the Abu Dhabi Securities Exchange (ADX) on Friday, June 12, 2026.

Kwairanga held discussions with the board and management of the exchange on investment opportunities.

Kwairanga said both markets could explore knowledge sharing and training programmes, adding that partnerships in product development and cross-border listings could strengthen market integration.

“This is to strengthen market integration between Africa and the Middle East,” he was quoted as saying in a statement issued by the NGX on Friday.

The NGX chairman, who said Nigeria’s capital market had recorded significant growth in recent years, noted that market capitalisation and the benchmark index had more than doubled.

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According to him, the development reflects renewed investor confidence in Nigeria’s capital market.

Kwairanga disclosed that Nigeria was preparing for the anticipated Dangote Refinery initial public offering (IPO).

He described the refinery project as a continental venture with significant investment potential, adding that there was strong interest in attracting Middle East investors to the offering.

Kwairanga, who disclosed that roadshows for the IPO could be held in the UAE, said discussions on a possible dual listing in a global financial centre were ongoing.

“Hopefully, the refinery, one of the biggest in the world, will consider a dual listing,” the NGX chairman said.