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President Buhari Headlines NGX Group’s The Stock Africa Is Made Of Campaign

Nigerian Exchange Group (NGX Group) Plc launched its campaign, The Stock Africa Is Made Of, yesterday.

The event which was headlined by His Excellency, Muhammdu Buhari, GCFR, President of the Federal Republic of Nigeria was held to amplify NGX Group’s positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world, as well as spotlight the growth potential of the African continent.
In delivering his remarks prior to sounding the closing gong and bringing the day’s trading to a close, His Excellency, Muhammadu Buhari, GCFR stated, “It is my pleasure to join you all at this important event organised to amplify the positive narrative about Africa and its great potentials.
“Let me start by congratulating Nigerian Exchange Group Plc on its recently concluded demutualisation, which is the first in the country. I recall signing the Demutualisation Bill in August 2018, paving the way for the long awaited demutualisation of the then Nigerian Stock Exchange.”
“It is also important for me to highlight that the history of NGX Group is tied to that of the Nation itself founded 61 years ago at a pivotal time when Nigeria gained her independence.
The Exchange continues to play its part in nation building by stimulating economic growth and providing a platform for businesses and individual to save and raise capital through innovation, diversified products and services, enabling regulatory environment and much more.
The occasion of the demutualisation of The Nigerian Stock Exchange is yet a proud moment for all of us, and indeed all Nigerians deserve congratulations for this feat as it is the beginning of a new era for the capital market,” President Buhari added.
Speaking at the event, Otunba Abimbola Ogunbanjo, the Group Chairman, NGX Group Plc, stated, “The Exchange has come a long way, through different leadership regimes – civilian and military – that have overseen multiple boom and bust economic dispensations within the Nigerian economy, to emerge as a leading integrated market infrastructure in Africa and the engine of growth for Africa’s largest economy.
“Our story is one birthed from resilience, collaboration, determination and continued focus on our vision. A true Africa story. With demutualisation, NGX Group is well positioned to enable strong economic growth and contribute its quota to the development of the Nigerian capital market, and the African Continent.”
On his part, the Group Managing Director/Chief Executive Officer, NGX Group Plc, Mr. Oscar N. Onyema, OON noted that, “At Nigerian Exchange Group Plc, we have a vision to be the premier Exchange hub for Nigerian businesses and for the wider African economy building on the strong reputation and corporate governance the NSE has established over the years.
As we march bravely into the NGX era, we look forward to impact creating partnerships that will unlock value for our stakeholders, whilst improving the state of the Nigerian economy. It is a period to reinforce on the global stage, our great African pedigree and the Stock Africa Is Made of.”
The unveiling event culminated in a Closing Gong Ceremony where the CEO, Nigerian Exchange Limited, Mr. Temi Popoola, CFA, stated, “I am delighted to have hosted His Excellency, Muhammadu Buhari GCFR, President of the Federal Republic of Nigeria, our special guest of honour. Today’s epochal Closing Gong Ceremony could not have been possible without Mr President’s support.
The NGX era is indeed very exciting for us and we will continue to champion the growth of the African capital market through trade and investments that will facilitate Africa’s economic recovery and reposition the continent for sustainable economic development. Partnerships are a critical element of our strategy and we will continue to engage our stakeholders whose support is essential to the achievement of our aspirations in this NGX era.”
In her closing remarks, the CEO, NGX Regulation Limited, Ms. Tinuade Awe stated, “My deepest gratitude goes to the President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari GCFR, for gracing us with his presence and honouring our invitation to close the market on the official launch day of the NGX era.
This has truly been an inspiring event and we have our amazing line-up of speakers to thank for that. I must also thank our regulators, the entire capital market ecosystem and the Management and staff of Nigerian Exchange Group for the hard work and diligence that has set us firmly on the path of success. It has been an exciting journey to date, and I am confident that we will all work well together to achieve even greater heights in the NGX era.”
The event featured several key speeches and goodwill messages from industry veterans across the public and private sectors including Dr. Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, Federal Republic of Nigeria; Otunba Richard Adeniyi Adebayo, CON, Honourable Minister of Trade and Investment, Federal Republic of Nigeria; Mr. Lamido Yuguda, Director General, Securities and Exchange Commission (SEC); Alhaji Aliko Dangote, GCON, Chairman, Dangote Group; Mr. Jim Ovia, CON, Chairman, Zenith Bank Plc; Mr. Masai Ujiri, President, Toronto Raptors; Mr. Tony Elumelu, CON, Group Chairman, United Bank for Africa (UBA) & Founder, The Tony Elumelu Foundation (TEF); Mr. David Swchimmer, CEO, London Stock Exchange; Ms. Julie Becker, CEO, Luxembourg Stock Exchange; Mr. Eric Hespenheide, Board Chairman, Global Reporting Initiative; and Mr. Ben Llewellyn-Jones, Deputy British High Commission Lagos.
News
FG Okays Biometric Upgrades @ Airports, Others

Federal government has a contactless biometric passenger verification system linked to the National Identification Number (NIN) across all airports in the country to tackle identity fraud and enhance security.

Festus Keyamo, minister of Aviation and Aerospace Development,
Festus Keyamo, minister of Aviation and Aerospace Development, announced this on Thursday, while briefing State House correspondents after the Federal Executive Council (FEC) meeting in Abuja.
“Too many people board aircraft using fake identities. This system will confirm passengers are who they claim to be,” Keyamo said.
The minister also said that the Council also ratified contracts under the 2024 budget to install airfield lighting at select airports so they can operate into late evening hours, helping airlines improve revenue.
“Some airports shut by 6 p.m. because they lack lighting. This upgrade will allow operations till 10–11 p.m.,” he noted.
Keyamo appealed to aviation unions to support ongoing reforms, stressing that while he remains pro-labour, “unions will not dictate government policy.”
Keyamo said the directive overrides interpretations linked to previous administrations’ asset disposal programmes, stressing that FAAN properties are strategic national assets that must remain under government control.
He explained that essential personnel, including firefighters and navigational officers, are required to reside within airport precincts to ensure rapid emergency response, making the retention of these facilities critical.
“We will not concede any of these properties to private individuals. Anyone who believes they have purchased such assets should take note,” he said.
The minister added that FEC granted eight approvals for the aviation ministry, covering airport safety, technology upgrades, concessions and security enhancements.
These include contracts for maintenance and support services for Aeronautical Information Management (AIM) solutions across five international airports — Abuja, Lagos, Kano, Port Harcourt and Enugu.
Council also approved the deployment of advanced Terrestrial Trunked Radio (TETRA) power systems nationwide, along with 14 VHF remote communication systems for the Nigerian Airspace Management Agency (NAMA) to boost navigational safety.
To meet International Civil Aviation Organisation (ICAO) standards, FEC endorsed the purchase of 15 airport rescue and firefighting vehicles for the five major international airports.
Keyamo further announced that NAMA, currently operating from rented offices in Abuja, will now have a purpose-built headquarters in the capital.
News
Lassa Fever’s Death Toll in Nigeria Hits 176- NCDC

Nigeria Centre for Disease Control and Prevention (NCDC) has reported that at least 176 people have died from Lassa fever across 21 states in 2025.

According to the NCDC; Ondo, Bauchi, Edo and Taraba remain the epicentres of the outbreak, accounting for 88 per cent of all confirmed cases recorded so far this year.
In total, Nigeria has recorded 955 confirmed cases from 8,367 suspected infections.
While confirmed cases are fewer than those seen in 2024, fatalities have increased.
This year’s case-fatality rate (CFR) is 18.4%, compared to 16.6% during the same period in 2024.
NCDC said the deaths are likely due to poor health-seeking behavior among patients who seek medical intervention too late, as well as poor environmental sanitation in affected communities.
Eighty-eight percent of all confirmed Lassa fever cases were reported from four states (Ondo, Bauchi, Edo, and Taraba), while 12% were reported from 17 states. Adults ages 21 to 30 years report the most infections.
Lassa virus is endemic in West Africa and spreads via contact with the urine or droppings of infected rodents.
Though not common, the virus can be transmitted person-to-person through direct contact with a sick person’s blood or other body fluids, mucous membranes, or sexual contact.
News
Tax Ombudsman is to Protect Businesses from Harassment—Oyedele

Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has said that the creation of a new office of the Tax Ombudsman (OTO) is to protect businesses from harassment.

Dr. John Nwabueze, Nigeria’s tax ombudsman
Oyedele, who spoke Sat the 24th Annual Conference of the Women in Management, Business and Public Service (WIMBIZ) held in Lagos, said that the Tax Ombudsman, will serve as an independent body to mediate disputes and safeguard the rights of taxpayers.
“If anybody shows up to harass you, to collect tax, or to seal up your premises, you can call the Tax Ombudsman. They have the legal authority and obligation to protect your rights,” he stated.
Oyedele said that the new tax regime will favour compliant and formalised enterprises while protecting small and informal businesses from undue pressure and harassment by tax officials.
He said that the ongoing reforms are people-centred and designed to reward compliance, promote fairness, and support economic growth rather than overburden citizens or businesses.
During a panel session themed “The New Tax Law and You,” Oyedele urged entrepreneurs, especially small business owners, to formalise their operations to benefit from a range of incentives embedded in the new tax framework taking effect from January 2026.
“We started the tax and fiscal reform by looking at how people do business, how those businesses grow, and how finance is placed,” he explained. “You can’t knock on the door and say, ‘Tax me.’ Let’s have a conversation on how to create a business that can pay corporate tax. So, the reforms are people-centric.”
According to Oyedele, small companies with an annual turnover of ₦100m or less will enjoy a zero per cent corporate tax rate, in line with the government’s goal of allowing small businesses to expand before being taxed.
“If you run a small company where your annual turnover is ₦100m or less, your corporate tax rate will be zero per cent. What is even more interesting is that the Corporate Affairs Commission (CAC) will register 250,000 small companies free of charge,” he disclosed.
He also revealed that the reforms would ensure fairness in value-added tax (VAT) administration, adding that critical sectors such as food, water, education, pharmaceuticals, and medical services will be fully exempted from VAT from next year.
“From next year, January 1, this bottle of water will be zero-rated for VAT. The same explanation applies to food, education, pharmaceutical, and medical services,” he said.
Oyedele explained that the government’s decision to exempt essential goods and services from VAT was informed by data showing that low-income Nigerian households spend nearly 80 per cent of their income on food, health, rent, education, and transportation.
“If people spend their entire income on five basic items, food, education, health, rent, and transport, then we must remove the taxes on those,” he noted.
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