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NGX Holds Inaugural Capital Markets Conference Today

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NGX Holds Inaugural Capital Markets Conference

…as Prof. Yemi Osinbajo, Others laud digitization efforts

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) has, at the maiden edition of the capital markets conference, called for increased collaboration among key players in the nation’s economy towards driving productive investments that would accelerate an elevated and digitized capital market.

Themed the “The Future Ready Capital Markets; Innovating for Nigeria’s Sustainable Recovery the inaugural NGX Capital Markets Conference, which was held at Transcorp Hilton, Abuja, on Tuesday, 30th November, brought together leading policymakers, financial experts, business leaders, investors, international development partners, and regulators, led by the Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing for the capital market.

Speaking after the conference, the Chief Executive Officer, NGX, Mr. Temi Popoola expressed his excitement about the deliberations, outcomes and agreed way forward by key speakers and panelists. He said,  as a major propeller of the economy, we are proud to be at the forefront of this milestone which is defining moment for Nigeria’s finance sector and the capital market specifically. The long list of key stakeholders from the public and private sector in attendance at today’s conference shows how to open NGX is to leveraging relationships and partnerships to advance its digital transformation agenda”.

“Taking this forward, NGX will continue to deepen and increase access to financial services for Nigeria through technology while championing the infrastructural development and the economic growth of the countryTemi assured.

NGX Holds Inaugural Capital Markets Conference
Left-Right: Alhaji Abdul Samad Rabiu, Chairman/CEO of BUA Group; Mr. Abubakar Balarabe Mahmoud, OON, SAN; Prof Yemi Osinbajo Vice President of Nigeria; and Mr. Temi Popoola CFA, CEO Nigerian Exchange Limited.

Held as a hybrid event, the inaugural capital market conference featured a long list of policy makers and business leaders across the public and private sectors in the country, including the Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, who headlined the conference; Chairman, BUA Group, Alhaji Abdul Samad Rabiu, CON, Chairman of the Conference; Senate President, Federal Republic of Nigeria, Senator, Ahmad Ibrahim Lawan Ph.D, CON, represented by the Senator Ibikunle Amosun, Chairman, Senate Committee on Capital Market; Speaker, Federal House of Representatives, Federal Republic of Nigeria, Honourable Femi Gbajabiamila; Chairman, House Committee on Capital Markets, Federal House of Representatives, Federal Republic of Nigeria, Honourable Babangida Ibrahim; Dr. Kayode Fayemi, Executive Governor, Ekiti State and Chairman Nigeria’s Governors Forum; Mr. Godwin Obaseki, Executive Governor, Edo State; Malam Nasir El-Rufai, Executive Governor, Kaduna State; Group Chairman, Nigerian Exchange Group Plc, Otunba Abimbola Ogunbanjo; Chairman, NGX, Mr. Abubakar Balarabe Mahmoud, SAN, OON; Mr. Aigboje Aig-Imoukhuede, CON, Chairman, Coronation Capital; Mr. Oscar N. Onyema, OON, Group Managing Director/Chief Executive Officer, NGX Group Plc;  Mrs. Cathrine Echeozo, Director, Guaranty Trust Holding Company (GTCO); and the Honourable Minister of Finance, Budget, and National Planning, (Dr) Zainab Ahmed,  among others.

While delivering his address as Keynote speaker at the conference, Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, lauded the digitization efforts of NGX and urged The Exchange to continue to collaborate with all government agencies and regulators, such as the Central Bank, the Securities and Exchanges Commission (SEC) and National Pension Commission (PENCOM) amongst others to ensure that the excessive risk premium of the capital market are abated and foreign investors are strongly reassured of foreign investment mechanisms and other regulations that would help them channel their resources in and take them out with the least possible constraints. As a government, we have shown our commitment to the growth of NGX and we want NGX to see itself as a critical player, even in negotiations on Africa-wide initiatives such as the Africa Continental Free Trade Area (AFCTA). The macroeconomic environment and the regulatory regime present unprecedented opportunities, as heralded by the inaugural Capital Markets Conference,  to bring in more retail investors, deepen the market and positively impact the livelihoods of Nigerians” Osinbajo said.

Also speaking at the conference,  Chairman, NGX, Mr. Abubakar Balarabe Mahmoud, SAN, said the Nigerian capital market has the capacity to drive economic development and wealth creation through innovation and digitalization. “As shown by the conclusion of diverse speakers and panelists, an elevated capital market can strongly contribute to the government’s developmental agenda especially around the improvement of the economy”, Mahmoud concluded

The inaugural NGX Capital Markets Conference is the first in the series of events to catalyse the capital market of the future, that sustainably leverages technology to champion the infrastructural development and the economic growth of the country.

Capital Market

NGX, SEC Strengthen Alliance To Further Market Development

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NGX, SEC Strengthen Alliance to Further Market Development

NGX, SEC Strengthen Alliance to Further Market Development

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) has deepened its collaboration with the Securities and Exchange Commission (SEC) to undertake innovative initiatives that will drive the development of the Nigerian capital market.

Flowing from a shared mandate to deepen liquidity in the market, increase domestic and foreign participation, and position the Nigerian capital market for global relevance, NGX, SEC, and other capital market stakeholders held a strategic meeting in Abuja on Thursday, 19 January 2022 to discuss viable initiatives to further develop the market.

Temi Popoola NGX CEO 1
Mr. Temi Popoola, NGX CEO.

Speaking at the meeting, the Chief Executive Officer, NGX, Mr. Temi Popoola, CFA, expressed gratitude to The Commission for its unwavering support of the market under the leadership of Mr. Yuguda. He stated, “If you look at the trajectory of the market over the past year, there has been a significant increase in market interactions with issuers, intermediaries, and operators like NGX. It is not lost on us how much investment this takes and we have seen results from these engagements. It is our hope that this session will bring to bear opportunities for further development particularly in the areas of technology, digitization of our markets, attracting listings, collaborating across the ecosystem, and product origination.”

NGX, SEC Strengthen Alliance to Further Market Development

On his part, the Director-General, SEC, Mr. Lamido Yuguda, CFA noted, “The past two years have been challenging for the Nigerian capital market, which is largely a reflection of pandemic-related challenges in global markets. However, NGX has continued to deploy capable resources to tackle elements militating against the market’s growth including Smart Surveillance System and X-Mobile App for retail trading; upgrading of the X-Issuer Platform to further enhance market integrity and electronic offer platforms. It can however be agreed that the efforts made and gains achieved in this regard are a result of the collective efforts of various stakeholders in the capital market, including The Commission and NGX. Consequently, as the apex regulator, the SEC will continue to support all efforts aimed at making our markets fairer, more efficient, and more transparent, particularly in the areas of regulation and technology.”

Evidently, NGX continues to implement its strategic objectives to democratize finance in Nigeria and create a market that is attractive for issuers, intermediaries, and investors alike. In light of engagements such as the NGX TechNovation Conference and the NGX Capital Markets Conference, and the most recently held meeting with the SEC, The Exchange appears to have exciting plans for the market and stakeholders are eager to see traction in the new year.

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BUA Foods Engages Stakeholders Through NGX Facts Behind The Listing

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Left-Right: Haruna Jalo-Waziri, Managing Director, Central Securities Clearing System (CSCS) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange Limited; Ayodele Abioye, Acting CEO, BUA Foods Plc; Alhaji Kabiru Rabiu, Group Executive Director, BUA Foods Plc; Isyaku Rabiu, Executive Director, BUA Foods Pl and Seyi Osunkeye, Non-Executive Director, NGX during the Closing Gong Ceremony in commemoration of BUA Foods Plc Listing at the Exchange on Tuesday, January 18, 2022, in Lagos.

…BUA Foods Plc Engages Stakeholders Through NGX Facts Behind the Listing

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX or The Exchange) started the year off with the listing by the introduction of BUA Foods Plc on the Main Board of The Exchange.

In keeping with its practice of intimating stakeholders with details of notable transactions such as these, NGX hosted the Management of BUA Foods to a virtual Facts Behind the Listing and Closing Gong Ceremony on Tuesday, 18 January 2022.

Speaking at the event, Chief Executive Officer, NGX, Mr. Temi Popoola, commended BUA Foods Plc for taking the bold step to join its subsidiary company, BUA Cement, as a public listed company on The Exchange. He further stated, “The listing of BUA Foods Plc on The Exchange reaffirms the confidence that leading Nigerian corporates have in NGX as the partner of choice for raising capital and enabling sustainable growth and development. I must commend the efforts made by the Management of BUA Foods towards this listing and the roles played by all the professional parties to this transaction including; Stanbic IBTC Capital Limited, Rand Merchant Bank Nigeria Limited, UCML Capital Limited, APT Securities Limited, and CardinalStone Securities Limited.”

“At NGX, this milestone transaction is in line with our strategic objectives to improve listings and enhance investors’ participation in our market. As a multi-asset Exchange, NGX is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa, and the world. I must, therefore, encourage capital market players and enthusiasts at home and abroad to pay closer attention to the plethora of opportunities available in our market both to list securities and make the most of their investments,” Mr. Popoola added

L – R shows Haruna Jalo-Waziri, Managing Director, Central Securities Clearing System (CSCS) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange Limited; Ayodele Abioye, Acting CEO, BUA Foods Plc; Alhaji Kabiru Rabiu, Group Executive Director, BUA Foods Plc; Isyaku Rabiu, Executive Director, BUA Foods Pl and Seyi Osunkeye, Non Executive Director, NGX during the Closing Gong Ceremony in commemoration of BUA Foods Plc Listing at the Exchange on Tuesday, January 18, 2022 in Lagos.
Left-Right: Haruna Jalo-Waziri, Managing Director, Central Securities Clearing System (CSCS) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange Limited; Ayodele Abioye, Acting CEO, BUA Foods Plc; Alhaji Kabiru Rabiu, Group Executive Director, BUA Foods Plc; Isyaku Rabiu, Executive Director, BUA Foods Pl and Seyi Osunkeye, Non-Executive Director, NGX during the Closing Gong Ceremony in commemoration of BUA Foods Plc Listing at the Exchange on Tuesday, January 18, 2022, in Lagos.

On his part, the Chairman, BUA Group Plc, Abdul Samad Rabiu, CON, represented by Group Executive Director, BUA Foods Plc, Alhaji Kabiru Rabiu stated, “Today for us is very historic and we are excited to begin the year with the listing. The population of Nigeria is over 200million and our food production capacity is still not enough to meet current demands. However, with the listing of our food business on the NGX, there is high hope for Nigeria in terms of building capacity for food sufficiency. We are, therefore, positioning our brand to take advantage of export opportunities through our strategically located plants from which foreign exchange can be generated both for the company and the economy. As a listed company, BUA Group has benefitted first-hand from NGX’s efforts to chart a path for the sustainable development of the Nigerian economy. It has, therefore, been exciting for BUA Foods to go through a similar journey and we are confident that by leveraging the collaborative approach prevalent in the market, the entire group of companies will be equipped to increasingly deliver value to its shareholders/ We certainly look forward to benefitting from the new opportunities that have opened up to as on the platform of The Exchange”.

It is noteworthy that the listing of BUA Foods’ shares has added N720Bn to the market capitalization of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation. Following the admission of BUA Foods’ shares on the Main Board of The Exchange on Wednesday, 5 January 2022, the company has experienced an upward trend in share price, market capitalization along with the trading activity.

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BUA Foods Plc Makes Impressive Debut On Listing, Beats NGX Closing Gong

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Kabiru Rabiu, Non-Executive Director, BUA Foods Plc (8th Right)) beating the Nigerian Exchange Limited (NGX) closing gong to commemorate the listing of BUA Foods Plc on the NGX. He was flanked by Temi Popoola, CEO, Nigerian Exchange (7th Left) and Ayodele Abioye, Ag. Managing Director, BUA Foods Plc (8th Left), partner to the listing and other Executive members of BUA Foods Plc and the Nigerian Exchange Limited (NGX).

…BUA FOODS PLC MAKES IMPRESSIVE DEBUT ON LISTING, BEATS NGX CLOSING GONG

Olushola Okunlade Writes


The management of BUA Foods Plc. was on Tuesday, January 18, 2022, hosted a closing gong ceremony on the main floor of the Nigerian Exchange (NGX) Limited.

This was after addressing market stakeholders with a fact behind the listing presentation in a webinar held earlier in the day.

BUA Foods was listed on the Nigerian Exchange on Jan 5, 2022, and has since received significant acceptance going by the volume of demand for the shares which has boosted the market capitalization of the Nigerian Exchange Limited by over N1trillion.

The company has maintained an unbroken record of year-on-year growth and has eight ultra-modern manufacturing facilities across the country. BUA Foods currently has a refining capacity of 1.5 million metric tonnes of sugar yearly from two ultra-modern sugar refineries in Lagos and Port Harcourt. As part of its expansion strategy in 2022, BUA Foods plans to double its flour milling capacity from about 500,000 metric tonnes per annum to over a million metric tonnes per annum. Similarly, that of pasta will grow from 5 lines to 11 lines.

L – R: Ayodele Abioye, Ag. Managing Director, BUA Foods Plc; Kabiru Rabiu, Non-Executive Director, BUA Foods Plc and Temi Popoola, CEO, Nigerian Exchange (NGX) at the closing gong ceremony to commemorate the listing of BUA Foods Plc at the NGX in Lagos.
Left-Right: Ayodele Abioye, Ag. Managing Director, BUA Foods Plc; Kabiru Rabiu, Non-Executive Director, BUA Foods Plc and Temi Popoola, CEO, Nigerian Exchange (NGX) at the closing gong ceremony to commemorate the listing of BUA Foods Plc at the NGX in Lagos.
L – R: Ayodele Abioye, Ag. Managing Director, BUA Foods Plc; Kabiru Rabiu, Non-Executive Director, BUA Foods Plc and Temi Popoola, CEO, Nigerian Exchange (NGX) at the closing gong ceremony to commemorate the listing of BUA Foods Plc at the NGX in Lagos.

The company’s rice mill, one of the largest in the country, has a capacity to produce 200,000 tonnes of rice per annum with work currently in progress on a rice plantation that will change the face of rice production in Nigeria.

Kabiru Rabiu, Group Executive Director speaking on behalf of the Chairman of BUA Foods Plc. stated that the company is determined to explore the huge opportunities available in the agribusiness to promote food security and growth for Nigerians and Africans.

According to Rabiu, “Today for us is very historic and we are excited to begin the year with the listing. The population of Nigeria is over 200million and our food production capacity is still not enough to meet current demands. However, with the listing of our food business on the NGX, there is high hope for Nigeria in terms of building capacity for food sufficiency.”

“As a country, we have agricultural resources coupled with human capital to harness needed raw materials to produce what we need for our consumption and develop our nation. We are positioning our brand to take advantage of export opportunities through our strategically located plants from which foreign exchange can be generated both for the company and economy”, Rabiu added.

The Acting Managing Director, BUA Foods, Engr. Ayodele Abioye, also stated, “our fast-paced and strategic investments in the food industry position us to capture growth opportunities within the sector, create headroom ahead of demand, generate sustainable employment while promoting national food security.

Additionally, as a business, we will continue to create sustainable value for our consumers and stakeholders”.

On his part, the Chief Executive Officer, NGX, Mr. Temi Popoola, stated, “This listing marks a new beginning for BUA Foods Plc who plays a critical role in the FMCG industry as the company can leverage services the Exchange offers to achieve its strategic objectives.

BUA Foods has experienced an upward trend in share price, market capitalization, and trading activity since its listing on the Exchange. At NGX, this milestone transaction is in line with our strategic objectives to improve listings and enhance investors’ participation in our market.

As a multi-asset Exchange, NGX is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa, and the world. I must, therefore, encourage capital market players and enthusiasts at home and abroad to pay closer attention to the plethora of opportunities available in our market both to list securities and make the most of their investments. NGX will continue to provide innovative solutions that meet the ever-evolving needs of our stakeholders.”

Know More About BUA Foods PLC

BUA Foods is a leading food business with well-diversified and scalable operations producing sugar, flour, pasta, rice, and edible oils. With strategically located plants across Nigeria, coupled with a cordial alliance with local stakeholders in host communities, BUA Foods is a resilient business built on a strong brand proposition and is an operator with a reputation for delivering high-quality products.

BUA Foods continues to invest in modern technology for efficient food production, innovatively expanding with strategic partners across the value chain. The company is also well-positioned to leverage significant export potentials across West Africa and the larger African continent.

Headquartered and listed in Nigeria, BUA Foods has become one of the most capitalized companies on the NGX and a leading consumer goods firm by market value.

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