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By Chukwuma Umeorah
The NASD OTC Securities Exchange PLC recorded remarkable growth across its key market indicators in 2024, highlighting its resilience and commitment to fostering market efficiency despite challenging economic conditions. The NASD Securities Index and NASD Pension Index surged by 223.64 percent and 433.20 per cent, respectively, reflecting heightened trading activity and investor interest.
Trading volume rose by 127.31 per cent year-on-year, while the value of trades increased by an impressive 176.71 per cent during the period. Much of this growth was driven by interest in large-cap stocks, with significant transactions involving Afriland Properties, Geo Fluids, CSCS Plc, Okitipupa Oil Plc, and Capital Hotels.
Despite the progress, the market capitalisation declined by 18.33 percent to N1.029 trillion, primarily due to the exit of Aradel Plc and Fan Milk Plc transition to private company status. However, the Exchange admitted four new securities—Impresit Bakolori, Capital Hotels, Okitipupa Oil Plc, and Adswitch Plc, bringing the total to 45 by year-end, signaling market diversification.
NASD OTC CEO, Eguarekhide Longe, expressed pride in the Exchange’s performance, emphasizing its role as a secure, transparent, and innovative platform for trading securities. He also highlighted the Exchange’s strategic pivot towards supporting Small and Medium Enterprises (SMEs) and engaging youth investors as key drivers for future growth.
“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,” Longe stated.
The Exchange’s innovation-driven approach seeks to position SMEs as a catalyst for economic transformation. Longe emphasized the importance of leveraging lessons from Aradel Holdings Plc to create a nurturing environment for growth companies. He noted the potential of the SME sector as a breeding ground for the next wave of market players, powered by young and entrepreneurial Nigerians.
“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 a result, we will be announcing strategic partnerships with organisations that share our conviction about indigenous business growth from ‘the ground up’,” he added.
The Exchange is also positioning itself to attract young Nigerians, particularly those with innovative ideas and global exposure, to leverage NASD’s platform in achieving their entrepreneurial dreams. “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,” Longe explained.
While the Exchange’s key metrics, such as trading value and volume, have soared, its leadership remains focused on fostering sustainable growth. By leveraging technology, forming strategic alliances, and diversifying its market offerings, NASD aims to solidify its position as an innovation-driven Exchange.
The 2024 performance also offered insights into investor sentiment, which appears to be shifting towards a preference for growth-oriented opportunities within the SME sector. The Exchange’s ability to attract new securities and support indigenous businesses demonstrates its relevance in Nigeria’s evolving capital market landscape.
Longe emphasized that with plans to strengthen partnerships and support budding entrepreneurs, NASD Securities Exchange was poised to remain a critical player in Nigeria’s financial ecosystem, bridging gaps between innovation and investment while driving the nation’s economic diversification agenda.
