Multinational listings seen driving Nigeria’s investment surge
Listing more multinational and major indigenous firms on Nigeria's capital market could broaden investor participation, boost foreign investment inflows, and strengthen long-term wealth creation, according to experts. Abiodun Keripe, Managing Director of Afrinvest, stated that such listings would significantly deepen the capital market by expanding market capitalization, increasing liquidity, and broadening investable securities. This would also improve sector representation, making the market more attractive to both domestic and foreign institutional investors. Retail investors would gain access to well-established, high-quality businesses, fostering long-term wealth creation. Investment research analyst Abeeblahi Rufai added that internationally recognized companies provide visibility, encouraging foreign portfolio investment, especially with Nigeria's more transparent foreign exchange market. Rufai also noted that multinational listings, with their substantial market values, would increase total market capitalization, depth, and liquidity, attracting more foreign interest and boosting retail participation. The article highlights that every successful public offering allows more Nigerians to become shareholders in companies driving industrial growth, distributing wealth more widely. Experts believe government reforms, including a liberalized FX market, the Investment and Securities Act, and ongoing tax reforms, are crucial to encouraging more companies to access the capital
