NGX, B3 Explore Strategic Partnership Opportunities — Kwairanga
By Abdullahi Alhassan
The Nigerian Exchange Group (NGX) has undertaken a strategic visit to the B3 Stock Exchange in São Paulo, Brazil, aimed at exploring areas of cooperation and drawing insights from B3’s success in building a robust online trading system, implementing world-class regulatory standards, and expanding market listings.
The NGX delegation was led by the Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, who was warmly received by the B3 management team.
In his remarks, Kwairanga expressed gratitude for the reception and commended Brazil’s remarkable history and economic progress.
Highlighting similarities between Nigeria and Brazil, he noted that both countries possess vast natural and human resources, diverse ecosystems, and large populations.
He emphasized that Nigeria’s economy is significantly driven by small and medium-scale enterprises, alongside the contributions of government-owned corporations.
Kwairanga outlined the history of the Nigerian Exchange, which was established over six decades ago and today boasts more than 400 listed companies and securities, with a market capitalization approaching ₦100 trillion.
He further explained that the NGX transitioned from a mutual organization limited by guarantee into a demutualized, for-profit public company just four years ago—a shift that has brought both opportunities and challenges.
According to him, the NGX continues to navigate issues relating to governance, regulation, technology, product innovation, market expansion, cost efficiency, and profitability.
He stressed that there is much to learn from B3’s experience in addressing similar challenges and achieving market vibrancy.
Kwairanga identified potential areas of collaboration between NGX and B3, including:
Technology sharing: adoption of best practices in online trading and market infrastructure.
Regulatory cooperation: developing frameworks to strengthen market integrity and boost investor confidence.
Cross-listing opportunities: enabling companies to list across both exchanges.
Market participation strategies: sharing insights to broaden investor engagement and deepen market activity.
He emphasized that such collaboration would be mutually beneficial, allowing both exchanges to leverage each other’s strengths and experiences.
Expressing optimism about the outcome of the visit, Kwairanga stated that the engagement would deliver long-term benefits for both exchanges while advancing the growth and competitiveness of the Nigerian capital market.
The visit to B3, he added, marks a significant step in forging stronger international partnerships and positioning NGX for greater innovation and expansion.
