The Nigerian government plans to team up with the Nigerian Exchange Limited (NGX) to forge a synergy that will help draw start-ups to list on the bourse’s new technology board.
While the Ministry of Communications, Innovation and Digital Economy will partner with the NGX to devise listing options for such companies to be quoted on the exchange, it will work on its own to create an investor-friendly regulatory environment for fintechs, Bosun Tijani, the minister overseeing the ministry said at a tech event in New York on Thursday.
“We cannot do all of this as a country if we do not prioritise innovation and encourage entrepreneurs to build,” the minister was quoted as saying in a statement by the NGX on Friday.
Mr Tijani is optimistic that improving productivity through increased application of technology and prioritisation of innovation is a key consideration for President Bola Tinubu’s administration as the government looks to wean the economy off its dependence on oil.
“We will continue to do a lot of work that makes us able to attract local capital and the day tech start-ups come to the exchange, we are confident that there would be very good audience of investors that would want to own a bit of their shares,” said NGX CEO Temi Popoola.
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