NGX raises over N6.71trn in mixed financing options this year

By Peter Egwuatu

The Nigerian Exchange Limited, NGX, said it raised over N6.71 trillion in financing across fixed income and equity asset classes so far this year, even as the Nigerian National Petroleum Corporation (NNPC) has expressed its willingness to collaborate with the NGX on financing options in the Nigerian capital market in the near term.

The Chief Executive Officer, NGX, Mr. Temi Popoola, disclosed this during a courtesy visit of NGX to NNPC led by the Chairman, NGX, Mr. Abubakar Balarabe Mahmoud.

READ ALSO:DPR to enable NNPC deliver value to Nigeria – Auwalu

Popoola, lauded the management of NNPC for the remarkable efforts at improving transparency, accountability and performance at the NNPC.

He stated: “NGX continues to provide a platform for private and public enterprises to raise capital to support their business objectives. In 2021, NGX has raised over N6.71 trillion in financing across fixed income and equity asset classes and shows no signs of slowing down.

“We are delighted to have the opportunity to explore several capital market related financing topics with the NNPC including a potential listing on the Exchange. An NNPC listing will have tremendous positive benefits for the Nigerian capital markets and will go a long way in deepening the current transformation that is occurring at the NNPC. Furthermore, the capital markets present a credible opportunity for the NNPC to meet its short and long term financing plans. NGX, working with other stakeholders, is keen to facilitate this.”

The Group Managing Director, NNPC, Mr. Mele Kolo Kyari, commenting, said: “The recent signing of the Petroleum Industry Act has opened up unique opportunities to create value for our shareholders. As such, there will be the need to access capital to build on our positioning as the largest corporation in Africa and expand capacity. We will, therefore, be pleased to collaborate with NGX on the short-term and long-term financing options available in the market and I must thank you for taking the time to visit us today to take this conversation further.”

The post NGX raises over N6.71trn in mixed financing options this year appeared first on Vanguard News.