The United Kingdom (UK) yesterday made a commitment to help Nigeria facilitate required capital investments that will unlock the full potential of the Nigerian economy.
UK also estimated that Nigeria and other developing economies need $3.9 trillion in additional financing in order to achieve sustainability development goals (SDGs).
UK Secretary of State, Foreign, Commonwealth and Development Office (FCDO), Rt Hon. James Cleverly, said UK would continue to focus on building future investment links and collaborate with Nigerian Exchange Limited (NGX) to ensure Nigeria’s economic potential is unlocked.
This was even as the UK government announced the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) partnership with the Exchange which will facilitate increased investment in sustainable development in Nigeria through products listed on the Exchange.
Cleverly spoke yesterday at a commemorative beating of closing gong at the NGX.
He said NGX, through its activities have a gravitational and attractive force to attract investment noting that investment fuels the economic activity, generates profit and unlocks the economic potential and feeds through jobs and prosperity for ordinary people for here in Nigeria and outside Nigeria.
He added that with the UK government would love to see more of dual listings while adding that developing countries need at least $3.9 trillion in additional financing if it is going to have credible chance of achieving their sustainability goals.
According to him, investment is going to help unlock the economic potential of Nigeria and the U.K government will not only keep hold of its existing ties with Nigeria but will collaborate with the NGX to attract listings as well as investment in the capital market.
Chairman, Nigerian Exchange Group Plc, Alhaji (Dr) Umaru Kwairanga said, “NGX remains fully committed to further strengthening its existing relationship with the UK by fostering even stronger partnerships and collaborations.”
Chief Executive Officer, Nigerian Exchange (NGX), Temi Popoola, said U.K’s inputs and importance are evident across the verticals of the Nigerian capital market.
“We will continue to work with the U.K government on expanding the digital transformation process, deepening capital flows into our markets, promoting sustainability and climate change mitigation in the capital market,” Popoola said.