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Nigerian Economy Continue To Boom As Federal Government, Corporate Organisations Raised N4.58 Trillion From Fixed Income Market – NGX

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Despite the weak macroeconomic situation of the country, the Nigerian Exchange Group (NGX Group) Plc continues to provide issuers with a platform that allows them to meet their strategic business objectives. So far, between January to June 3, 2021, the Federal Government and Corporate Organisations have raised N4.58 trillion from the capital market via the fixed income segment.

Data obtained from NGX’s X-Compliance Report on new listings in the fixed income market in 2021, revealed that the total number of issues within the period under review stood at 41 with 6.812 trillion units admitted till date. The data further revealed that the Federal Government was the most active player in the fixed income segment, while the value or market capitalization of the new listings until June 3, 2021 stood at N4.58 trillion, from twelve issuers.

Issuers continue to express excitement and satisfaction over the ability to access capital from the market and list the securities on NGX so as to provide liquidity for investors.

Some of the issuers that have listed on NGX in the period under review include NOVAMBL Investments SPV Plc, Federal Government of Nigeria, Mecure Industries Funding SPV Plc, CardinalStone Financing SPV Plc, Fidelity Bank Plc, FBNQuest Merchant Bank SPV Funding Plc, BUA Cement Plc, Etranzact International Plc, Kogi State Government, TSL SPV Plc, Lagos State Government, and Flour Mills of Nigeria Plc.

The Divisional Head, Listings Business, NGX, Mr. Olumide Bolumole said the exchange continues to provide issuers with a platform that allowes them to meet their strategic business objectives and it is the Exchange’s delight to see issuers take full advantage of their products and services to support their growth stories.

NGX remains committed to driving sustainable products and safe investments in a market that is orderly and transparent, whilst leveraging cutting edge technology. In terms of capital formation on the NGX platform, this year, the exchange has facilitated needed financing of over N4.6 trillion raised by governments and corporates across various asset classes.

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