UK govt pledges support to Nigeria’s capital market

The UK Government has pledged to support Nigeria to develop its capital markets, with Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme for sustainable development.

British Deputy High Commissioner Jonny Baxter, made this disclosure on Wednesday in a Press release in Lagos.

He said:The UK government is committed to supporting Nigeria in the continued development of its capital market to help deliver the country’s economic goals, including its ambitions to transition to clean energy solutions.

Baxter added that a liquid and well-regulated capital market benefits the entire economy by enabling companies to raise capital to fund their expansion, which in turn helps deliver crucial development, job opportunities and improved incomes.

“MOBILIST’s focus on stimulating the creation of innovative listed products can make a unique and impactful contribution to achieving these objectives.”

MOBILIST Programme Lead at the FCDO, Ross Ferguson said: MOBILIST is the expression of the UK’s conviction that public markets have a underutilised but potentially critical role in financing sustainable development at scale by mobilising private capital to flow where it is needed most, to the firms that are going to contribute most to solving developmental challenges and help deliver a fair and orderly climate transition for Nigeria.

In his remarks. The Ag CEO of NGX, Jude Chiemeka, emphasize that the partnership with MOBILIST is geared towards advancing market efficiency, sustainability reporting, and integrating Environmental, Social, and Governance (ESG) principles.