Despite Headwinds, NASD OTC Exchange Recorded 224% Growth in 2024

The NASD OTC Securities Exchange Plc, has stated that it 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 per cent and 433.20 per cent, respectively.

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

“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, NASD, Eguarekhide Longe.

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 per cent to N1,029 billion, largely due to the exit of Aradel  Plc. Also, FAN Milk Plc converted to a private company and likewise exited the

Market.

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,” explained Longe.

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