Misaligned incentives and shallow market keep Nigerian startups off NGX, says TLP report
- The Nigerian Exchange (NGX) created a Technology Board three years ago, but no startups have listed on it.
- Nigeria's tech ecosystem contributed 19.78% to GDP by late 2024, powered by over 3,000 startups and significant venture capital funding.
- Founders are hesitant to pursue NGX listings due to misunderstandings about the process and currency mismatches.
The lack of local IPOs in Nigeria's tech sector reflects deeper systemic issues that require urgent attention. Stakeholders must prioritize education and engagement to bridge the gap between the NGX and tech founders, ensuring that the exchange becomes a viable option for startups seeking growth and investment opportunities.
