NASD OTC Securities Exchange Achieves Remarkable Growth In 2024

The NASD OTC Securities Exchange Plc recorded impressive growth in 2024, with its Securities Index closing at 223.64 percent and the NASD Pension Index reaching an outstanding 433.20 percent. Despite challenges in the operating environment, trading activity surged significantly, with the number of trades increasing by 127.31 percent year-on-year and the value of trades rising by 176.71 percent.

Managing Director\Chief Executive Officer of NASD Plc, Mr. Eguarekhide Longe, expressed pride in the exchange’s achievements, emphasising its commitment to providing a secure, transparent, and efficient platform for securities trading. He stated: “Our Exchange remains dedicated to promoting the growth and development of the Nigerian capital market, and we look forward to continuing to serve our stakeholders in the years to come.”

The growth was largely driven by heightened investor interest in large-cap stocks, with Afriland Properties, Geo Fluids, CSCS Plc, Okitipupa Oil Plc, and Capital Hotels contributing notably to the performance. Four new securities—Impresit Bakolori, Capital Hotels, Okitipupa Oil Plc, and Adswitch Plc—were also admitted, bringing the total number of listed securities to 45 by the end of the year.

However, the market capitalisation declined by 18.33 percent to ₦1.029 trillion, primarily due to the exit of Aradel Plc and FAN Milk Plc, the latter transitioning to a private company. Despite this, the Exchange’s overall performance signals resilience and potential for sustained growth.

Looking ahead to 2025, Mr. Longe highlighted the exchange’s focus on supporting small and medium enterprises (SMEs) and fostering youth participation in the capital market. He noted: “The unlisted public companies present the default anchor for the growth of the OTC platform, but we also see a natural pull to developing the SMEs segment of the Nigerian economy as a veritable incubator for growth companies.”

The exchange plans to forge strategic partnerships with organisations aligned with its vision for indigenous business growth, encouraging young Nigerians with innovative business ideas to leverage its resources. Mr. Longe stated: “Our distinct positioning in the financial markets space in Nigeria is to be recognised and experienced as an innovation-driven stock exchange.”