The NASD OTC Securities Exchange PLC posted significant growth in its key market indicators despite the headwinds in the operating environment in 2024 as the NASD Securities Index and NASD Pension Index closed at 223.64 percent and 433.20 percent, respectively.

The Exchange also witnessed a substantial increase in trading activity, with the number of trades executed on the market, rising by 127.31 percent, year-on-year. The value of trades increased significantly by 176.71 percent in the review period.

The evident growth of the key market indicators was driven by interests in large cap stocks. In addition, major trades also occurred in Afriland Properties, Geo Fluids and CSCS Plc, Okitipupa Oil Plc, Capital Hotels, among others.

During the year, there were four new admissions – Impresit Bakolori, Capital Hotels, Okitipupa Oil Plc and Adswitch Plc – bringing total admitted securities to 45 as of the end of 2024.

However, the market capitalization declined by 18.33 percent to N1.029 trillion, largely due to the exit of Aradel Plc. Also, Fan Milk Plc converted to a private company and likewise exited the
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 Eguarekhide Longe, Managing Director and Chief Executive Officer, NASD Plc.

Longe expressed optimism that NASD would partner the Small and Medium Enterprises (SMEs) and attract youths to take advantage of the NASD’s innovative products and services to achieve their investment goals in the new year.

“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 as anchored on NASD from the Aradel Holdings Plc experience.

“As a result, we will be announcing strategic partnerships with organisations that share our conviction about indigenous business growth from ‘the ground up’. We are convinced that several young Nigerians in formal or informal employment harbour in
their minds the next growth initiative that will see them propelled from the humdrum to the unique next new business concept that they may have nursed quietly over time. We know also that the burgeoning ring of young and mid-career Nigerians located globally possess the exposure, experience, desire, and (in many cases) seed capital to ‘wanna be starting something”, he said.

“Our message is that the NASD Securities Exchange is their natural partner and home to revolutionise the economic space and bring these unique ideas to fruition in testament to their personal fulfilment as individuals and to the much longed for potential realisation and transformation of the Nigerian economy. Our distinct positioning in the financial markets space in Nigeria is to be recognised and experienced as an innovation-driven stock exchange”, Longe further noted.