Afriland, CSCS Drive Growth As NASD Securities Index Hits 223%

The NASD OTC Securities Exchange Plc achieved remarkable growth in 2024, with its Securities Index closing at 223.64 per cent and the NASD Pension Index reaching 433.20 per cent, despite challenges in the operating environment.

Trading activity on the Exchange surged significantly, with the number of trades rising by 127.31 per cent year-on-year and the value of trades increasing by 176.71 per cent over the same period.

This growth highlights the Exchange’s resilience and its commitment to fostering a vibrant and efficient securities market.

“We are delighted with the performance of the NASD OTC Securities Exchange in 2024. These results reflect our commitment to providing a secure, transparent, and efficient platform for trading securities.

“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,” said Managing Director and Chief Executive Officer of NASD Plc, Eguarekhide Longe.

The growth in key market indicators was driven by heightened interest in large-cap stocks. Notable contributors to the performance include Afriland Properties, Geo Fluids, and CSCS Plc, alongside trades in Okitipupa Oil Plc and Capital Hotels.

The year also saw the admission of four new securities—Impresit Bakolori, Capital Hotels, Okitipupa Oil Plc, and Adswitch Plc—bringing the total number of admitted securities to 45 as of the end of 2024.

However, the market capitalisation declined by 18.33 per cent to N1.029tn, primarily due to the exit of Aradel Plc and FAN Milk Plc, the latter converting to a private company.

Despite this, the exchange’s overall performance signals a positive trajectory for future growth.

Looking ahead to 2025, Longe emphasised the Exchange’s commitment to supporting small and medium enterprises (SMEs) and fostering youth participation in the capital market.

“Going into 2025, we realise that there is a pronounced need for market growth on the NASD Securities Exchange. While the unlisted public companies present the default anchor for the growth of the OTC platform, we see a natural pull to developing the SME segment of the Nigerian economy as a veritable incubator for growth companies,” he stated.

He further outlined plans for strategic partnerships with organisations that share NASD’s vision for indigenous business growth, encouraging young Nigerians with innovative business ideas to leverage the Exchange’s resources.

“Our distinct positioning in the financial markets space in Nigeria is to be recognised and experienced as an innovation-driven stock exchange,” Longe said.

Afriland, CSCS Drive Growth As NASD Securities Index Hits 223% is first published on The Whistler Newspaper