NGX CEO urges FG to list stakes in Indorama, NLNG, NNPC assets on exchange
NGX CEO Temi Popoola urged President Tinubu to leverage Nigeria's capital market by listing government stakes in strategic assets like Indorama Eleme Petrochemicals, NLNG, and NNPC portfolio companies. He argued this would deepen market liquidity, broaden wealth creation, and unlock economic value, citing past successes like MTN's listing from 1970s indigenisation programmes that boosted exchange participation. Popoola noted Indorama Eleme (originally NNPC's EPCL, privatized in 2006 for $300m, renamed 2012) and NLNG already have listing provisions, needing only FG support to proceed. The proposal aims to replicate historic gains where government-backed listings attracted domestic and international investors while giving citizens direct ownership in national growth.
This comes as NGX also pushes for local listings of fintechs like Opay and PalmPay, insisting Nigerians should share in value from revenue-generating companies despite global market openness. Market analysts believe such asset listings could improve corporate governance and provide long-term capital for development, building on the NGX's current trajectory toward N230 trillion market value by end-2026.
With Indorama Eleme now Africa's largest petrochemical hub and NLNG critical to energy exports, would you consider investing in these national assets if listed, or prefer existing opportunities like FG-backed savings bonds and equities for wealth growth?