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Wednesday, 18 June 2025

NGX Explores Strategic Partnership with Shanghai Stock Exchange for Sustainable Market Growth


The Chairman of Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has called for a strategic collaboration with the Shanghai Stock Exchange (SSE) to foster sustainable growth in Nigeria’s capital market.

Kwairanga made the appeal during a high-level board meeting at the SSE headquarters in China on Tuesday.

In a statement released on Wednesday, the NGX Chairman emphasized that such a partnership could enhance the development and resilience of capital markets in an increasingly dynamic global economy.

He lauded the SSE for its impressive growth and innovation since its re-establishment more than three decades ago, describing it as a symbol of China’s economic transformation and leadership in global finance and technology.

“With a market capitalisation exceeding six trillion dollars, the Shanghai Stock Exchange represents a beacon of innovation and progress,” he said.

Kwairanga also underscored the similarities between Nigeria and China, particularly their large, diverse populations and significant public sector roles in the economy. He said Nigeria could draw valuable lessons from China’s approach to economic expansion and financial market development.

“Nigeria, like China, has a hardworking population and a growing economy driven largely by small and medium-sized enterprises.

“Our Exchange, with over 400 listed securities and a market capitalisation of about 325 billion yuan, is small compared to yours, but we are determined to grow those numbers through strategic partnerships,” he said.

Kwairanga noted that NGX’s transformation from a mutual company to a publicly listed, profit-oriented entity had introduced both new opportunities and challenges, particularly in governance, regulation, technology, product innovation, and operational efficiency.

“We know that the Shanghai Stock Exchange has likely faced and overcome similar challenges.

“We are here to learn from your success and explore areas of collaboration for mutual benefit,” he said.

According to him, NGX views the SSE partnership as a critical step in enhancing its competitiveness and relevance in an interconnected global financial environment.

“Our presence here is not just to celebrate your success, but to initiate a journey of cooperation that will yield tremendous benefits for both our institutions,” he said.

Kwairanga reiterated NGX’s commitment to leveraging global partnerships and adopting international best practices to strengthen Nigeria’s capital market.

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