NGX, US Consulate Harps on Driving Bilateral Investments, Stock Market Trade

Kayode Tokede

The United States Consulate and Nigerian Exchange Limited (NGX) have announced a decision to collaborate on boosting investments and further enhance foreign investors stock market trade between Nigeria and the US.

The US Consul General, Mr Will Stevens, giving his remarks at the Closing Gong Ceremony held to commemorate his courtesy visit to NGX, said that the US is committed to facilitating its strategic interests of which increasing US investments to Nigeria; Nigerian investments to the US; and trade between the US and Nigeria is paramount.

“It is an honour and I am very excited to be here today. Our goal is to work with the Exchange to create transparency and accessibility for Nigerian companies to international investors. I am looking forward to doing everything I can to increase trade between our nations, US investments in Nigeria, and Nigerian investments in the US.”

The Chief Executive Officer, NGX, Mr Temi Popoola at the event, noted the longstanding relationship between the US Mission and NGX over the years, underscoring the critical role the Consulate plays in driving the cooperation and assuring the Consul General of NGX’s commitment to its sustenance.

He said, “The US Consulate plays a commendable role in driving sustainable investments in Nigeria’s technology, agriculture and energy sectors via strategic partnerships with American corporates and investors that have significantly aided Nigeria’s economic growth and further entrenches the importance of sustaining our cooperation. NGX, through our role as a frontrunner for sustainable finance and business practices for the Nigerian capital market, will continue to champion initiatives that stir the ecosystem along the path to achieve economic recovery and inclusive development.

Popoola stated that NGX is keen on exploring avenues through which it could be the point of contact between Nigerian investors looking to access the US market and US institutional and retail investors wanting to approach the domestic market.

“NGX is well positioned to leverage its partnerships for private sector advocacy, building capacity of market players, technological progress and digital transformation of markets.”