NASD OTC Exchange Records 224% Growth In 2024

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 closed at 223.64 per cent.
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.
The evident growth of the key market indicators was driven by interests in large cap stocks and in Afriland Properties, Geo Fluids, Central Securities Clearing System (CSCS), Okitipupa Oil, Capital Hotels, among others.
During the year, there were four new admissions; Impresit Bakolori, Capital Hotels, Okitipupa Oil and Adswitch, bringing total admitted securities to 45 as of the end of 2024.
However, the market capitalisation declined by 18.33 per cent to N1,029 billion, largely due to the exit of Aradel Plc and FAN Milk Plc, converting to a private company.
Speaking, managing director and chief executive officer, NASD, Eguarekhide Longe stated that “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,” he said.
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.
According to him, 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 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,” he said.
Longe explained that “our distinct positioning in the financial markets space in Nigeria is to be recognised and experienced as an innovation-driven stock exchange.”
The NASD OTC Securities Exchange is a licensed securities exchange, operating an over-the-counter (OTC) market for unlisted securities. The Exchange provides a platform for trading securities, promoting transparency, and supporting the growth of the Nigerian capital market.