Nigerian Exchange Group (NGX) has entered a partnership with the Asagba of Asaba, Prof. Epiphany Azinge, to promote investment in Delta State. The collaboration was unveiled at the NGX Closing Gong Ceremony in Lagos, which also marked the launch of the Corporate Nigeria Investment Forum. Azinge, speaking at the event, said the Asaba Community is prioritising investment-led development in sectors including real estate, hospitality, agro-economy and tourism. He described Nigeria's capital market as "very strong" despite ongoing challenges and praised NGX for deepening market activities. The traditional ruler noted that engagement with capital market operators would improve access to funding for local development goals. Ringing the closing gong was termed a historic moment by Azinge, symbolising a new phase of economic engagement.
Dr Umaru Kwairanga, Chairman of NGX Group, said the forum aims to bring together stakeholders to unlock investment opportunities across sectors. He highlighted the role of traditional institutions in driving economic growth, citing the Asagba's leadership as a model for other states. Kwairanga affirmed NGX's commitment to supporting the Federal Government's ambition of a one trillion-dollar economy through its platform and expertise.
A traditional ruler ringing the gong at Nigeria's stock exchange is more spectacle than substance unless it translates into tangible capital flows. Prof. Epiphany Azinge's endorsement of the capital market as "very strong" contrasts with the reality many small investors face amid volatility and inflation. If this partnership does more than generate photo ops, Asaba might become a test case for how traditional institutions can interface with formal finance. Otherwise, it's just another ceremonial gesture dressed as economic strategy.
