Kwairanga highlights NGX growth during Abu Dhabi Exchange visit
Nike Popoola
The Nigerian Exchange Group (NGX Group) and the Abu Dhabi Securities Exchange (ADX) are exploring areas of collaboration aimed at deepening capital market development, promoting cross-border listings, and enhancing investment opportunities between Nigeria and the United Arab Emirates (UAE).
This was disclosed by the Group Chairman of NGX Group, Alhaji (Dr) Umaru Kwairanga, during a visit to the Abu Dhabi Exchange on Friday, June 12, 2026.
Kwairanga expressed appreciation to the board and management of the exchange for the invitation and warm reception extended to him during the visit.
He commended the resilience of the UAE economy and capital market, noting that despite ongoing geopolitical tensions, the country remains peaceful and continues to be a preferred global destination for business and investment.
According to him, the continued stability and attractiveness of the UAE reflect the strong foundation laid by the nation’s founding fathers as well as the determination and focus of its current leadership.
Speaking on developments in Nigeria’s capital market, Kwairanga said the Nigerian Exchange Group and the broader Nigerian capital market had recorded significant improvements in performance and operations over the last few years.
He noted that both the market index and market capitalisation had more than doubled during the period, resulting in renewed investor interest from various parts of the world, including the Middle East.
The NGX chairman recalled that President Bola Ahmed Tinubu had visited Abu Dhabi earlier in the year to engage investors on ongoing economic reforms in Nigeria and promote the country as an attractive investment destination.
Kwairanga also highlighted the role of the NGX in advancing continental market integration through the African Exchanges Linkage Project, which is expected to facilitate seamless trading across multiple African stock exchanges and broaden investment opportunities across the continent.
He said discussions during the visit would focus on potential areas of cooperation between NGX and ADX, including knowledge sharing, training programmes, product development, and cross-border listings.
He added that opportunities could also be explored for UAE-listed companies seeking expansion into Nigeria, while identifying the Tabadul platform as one area where both exchanges could work together.
Kwairanga further disclosed that preparations were underway for the anticipated initial public offering of the Dangote Refinery, describing the project as one of continental significance.
He expressed optimism that the refinery, regarded as one of the largest in the world, would consider a dual listing in a global financial centre and attract strong participation from Middle Eastern investors.
According to him, investor roadshows connected to the planned offering are likely to be held in the UAE.
He described the visit as the beginning of what could become a mutually beneficial partnership between the Nigerian Exchange Group and the Abu Dhabi Exchange.
