By Chinwendu Obienyi
The Nigerian Exchange Limited (NGX) says it will seek to explore partnerships with the entertainment industry to catalyse its growth and bring even more success to the country this year.
Its Chief Executive Officer, Temi Popoola stated this during the 2022 final trading day with a Closing Gong Ceremony featuring renowned filmmaker Kemi Adetiba.
Popoola, whilst describing the exchange’s outing in 2022 as “fantastic”, said several landmark listings in equity and fixed income, including BUA Foods and Geregu Power, played a key role in driving growth in the market this year.
“It is a delight that an icon is here with us and as we were speaking earlier, I was telling Adetiba that when we see sectors that are booming and driving economic growth which the entertainment industry is at the moment, we ask ourselves how we can be a part of it.
Number 2 is how can we through the entertainment industry spread the gospel of the exchange as well as the capital market and I guess that this is one of the things we are trying to achieve today, to amplify the message. We are extremely delighted that there are a good number of intermediaries here. The year 2022, we set out to do good things and set out to do long hanging fruits by asking ourselves how we can get key strategic listings and on this we will be able to say NGX had a successful year.
Praising Adetiba for her exceptional contributions to the entertainment industry, Popoola said, “Kemi Adetiba has truly put Nigeria on the map with her incredible movie successes. We are excited to explore partnerships with the entertainment industry to catalyse its growth and bring even more success to the country.”
Responding, Adetiba said that until recently, Nigeria’s exports have mostly been oil and added that the entertainment sector has somewhat pushed Nigeria in the global scene and added to the coffers of the Nigerian economy.
“It has also helped to rebrand ourselves in the international space as a lot of our films have been shown on the biggest International festivals. You also know that we are breaking strides in streaming Nigerian movies on Netflix and Amazon Prime. Even in the music industry, we are gracing one of the most largest stages, we are winning grammys and things all over the world. With that, I say that I am very humbled to be here and I hope that at some point, maybe some key players in the entertainment industry will be listed here on the stock exchange”, she said.
Also speaking, Sola Sobowale, said, “It is a big honour to be standing right in front of everyone here. I had said I knew nothing about Nigeria’s stock exchange and when Popoola spoke, my belief was that you had to have a lot of money to play in the stock market but I have learnt and this is an eye-opener for me and I am taking this home to everyone that the exchange is the place to be if they want to do any investment”.