Dual Listing of Nigerian Exchange Limited with Saudi Exchange: A Major Target for Oil and Gas Giant Saudi Aramco

Key Highlights :

1. Saudi Aramco is a target of the proposed dual listing of the Nigerian Exchange Limited with the Saudi Exchange.

2. The Group Chairman, Nigerian Exchange Group, Dr. Umaru Kwairanga, hinted at the proposed plans for dual listing with the Saudi Exchange, stressing that President Bola Tinubu’s economic reforms have created room for investment in Africa’s largest economy.

3. According to him, “We believe with our population, and many other advantages we have opportunities to showcase, to Africans, Arabs based out of Saudi Arabia.”

4. The key points are that Saudi Aramco is a target of the proposed dual listing of the Nigerian Exchange Limited with the Saudi Exchange, that the Group Chairman, Nigerian Exchange Group, Dr. Umaru Kwairanga, hinted at the proposed plans for dual listing with the Saudi Exchange, stressing that President Bola Tinubu’s economic reforms have created room for investment in Africa’s largest economy, and that the Saudi-Africa summit in Riyadh recently was an opportunity to seek cooperation between the Saudi government and the Nigerian business environment.

     The Nigerian Exchange Limited (NGX) is looking to expand its reach and attract more investors to its market with a proposed dual listing with the Saudi Exchange. Oil and gas giant Saudi Aramco, which is one of the leading companies in the world by revenue, is a major target of the proposed dual listing. The Group Chairman of the Nigerian Exchange Group, Dr. Umaru Kwairanga, recently hinted at the proposed plans for dual listing with the Saudi Exchange.

     The dual listing is part of President Bola Tinubu's economic reforms that are aimed at creating more investment opportunities in Africa's largest economy. According to Dr. Kwairanga, the dual listing will attract a lot of investors into the Nigerian economy. He also noted that the Saudi-Africa Summit in Riyadh was an opportunity to seek cooperation between the Saudi government and the Nigerian business environment.

     The dual listing will open up new opportunities for the Nigerian Exchange, which has been facing challenges due to foreign exchange (FX) scarcity. Dr. Kwairanga believes that the dual listing will enable the biggest companies quoted on the NGX to leverage the new opportunities. The Group Chairman also had discussions with the Minister of Environment and his officials on the dual listing.

     The dual listing of the Nigerian Exchange Limited with the Saudi Exchange will be a major benefit for oil and gas giant Saudi Aramco. It will open up new investment opportunities for the company and attract more investors to the Nigerian economy. The proposed dual listing is part of the economic reforms of the Nigerian government, which is aimed at creating more investment opportunities in Africa's largest economy.

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