Eight routes to NGX’s $100bn market cap

In 2012, Oscar Onyema, former chief executive officer of the Nigeria Stock Exchange (NSE), now Nigerian Exchange Group (NGX), set a $1 trillion market capitalisation target for the exchange by 2016.

Twelve years after, however, the market is far off that target. In naira terms, the market capitalisation is a little below N60 trillion mark and just around $36 billion.

Realistically, the easier target for the NGX to meet is a $100 billion market capitalisation, which would mean a flurry of listings on the exchange, including by giants such

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