Investors Flock to OTC Market as Demand Surges
The Nigerian Over-the-Counter (OTC) market is witnessing a surge in investor interest as more companies list their shares on the NASD Securities Exchange. This trend is driving strong market performance and boosting investor confidence.
✨ Strong Returns for Investors
• The NASD Securities Index, which tracks prices of OTC-listed companies, has climbed by 20.56% year-to-date, moving from 3,002.68 points at the start of 2025 to 3,629.89 points.
• The NASD Pension Index has also skyrocketed, delivering a 59.68% return so far this year, rising from 954.33 points to 1,523.91 points.
Analysts say these double-digit gains show that investors are finding real value and opportunities in the OTC space.
Companies Driving the Boom
The OTC Exchange has become home to several top-tier and diverse companies, including:
• MRS Oil Nigeria
• Infrastructure Credit Guarantee Company (InfraCredit), backed by NSIA and GuarantCo
• Capital Hotels Plc (owners of Sheraton Abuja)
• Dufil Prima Foods Plc (makers of Indomie)
• Friesland Campina Wamco (Peak Milk)
• Fan Milk Plc (Fan Yoghurt)
• NIPCO Plc
• Great Nigeria Insurance (GNI)
• Air Liquide Nigeria Plc
• Central Securities Clearing System (CSCS)
• Nigeria Mortgage Refinance Company, plus many more spanning industries from insurance and food to oil & gas and real estate.
Leadership & Market Growth
Outgoing NASD Chairman, Kayode Falowo, highlighted the company’s remarkable turnaround:
• For the first time ever, NASD is paying a cash dividend of 20 kobo per share.
• A bonus issue of one new ordinary share for every five held was also declared.
• Trading income jumped by 264.28%, rising from ₦295.36 million in 2023 to ₦1.07 billion in 2025.
• Interest income grew by 43.76%, hitting ₦61.43 million.
Falowo said: “Our performance shows consistent growth across all key metrics—trading income, profitability, and innovation. I’m proud we’re paying a cash dividend for the first time and confident the new leadership will sustain this momentum.”
What’s Next for NASD?
Incoming leadership, led by Olayimikah Bolo and Managing Director, Eguarekhide Longe, has ambitious plans:
• Grow liquidity by attracting more issuers.
• Expand the ‘One Company, Five Platforms’ strategy, which includes:
• The OTC Market
• Digital Securities Platform
• Venture Ramp
• NASDeP Enterprise Portal
• Commercial Paper Platform
• Harness opportunities in Nigeria’s economy to position NASD as a local and global capital markets leader.
Investor Reactions
Shareholders, including members of the Independent Shareholders Association of Nigeria (ISAN), praised NASD for reversing years of losses and delivering value:
• They urged stronger focus on cybersecurity, artificial intelligence (AI), business development, and more listings to deepen liquidity.
• Many expressed confidence that NASD has entered a new era of growth and profitability.
Bottom Line
With dividends, bonus shares, strong financials, and a pipeline of top Nigerian companies, the NASD OTC market is fast becoming a goldmine for investors seeking growth outside the traditional NGX.
The Nigerian Over-the-Counter (OTC) market is witnessing a surge in investor interest as more companies list their shares on the NASD Securities Exchange. This trend is driving strong market performance and boosting investor confidence.
✨ Strong Returns for Investors
• The NASD Securities Index, which tracks prices of OTC-listed companies, has climbed by 20.56% year-to-date, moving from 3,002.68 points at the start of 2025 to 3,629.89 points.
• The NASD Pension Index has also skyrocketed, delivering a 59.68% return so far this year, rising from 954.33 points to 1,523.91 points.
Analysts say these double-digit gains show that investors are finding real value and opportunities in the OTC space.
Companies Driving the Boom
The OTC Exchange has become home to several top-tier and diverse companies, including:
• MRS Oil Nigeria
• Infrastructure Credit Guarantee Company (InfraCredit), backed by NSIA and GuarantCo
• Capital Hotels Plc (owners of Sheraton Abuja)
• Dufil Prima Foods Plc (makers of Indomie)
• Friesland Campina Wamco (Peak Milk)
• Fan Milk Plc (Fan Yoghurt)
• NIPCO Plc
• Great Nigeria Insurance (GNI)
• Air Liquide Nigeria Plc
• Central Securities Clearing System (CSCS)
• Nigeria Mortgage Refinance Company, plus many more spanning industries from insurance and food to oil & gas and real estate.
Leadership & Market Growth
Outgoing NASD Chairman, Kayode Falowo, highlighted the company’s remarkable turnaround:
• For the first time ever, NASD is paying a cash dividend of 20 kobo per share.
• A bonus issue of one new ordinary share for every five held was also declared.
• Trading income jumped by 264.28%, rising from ₦295.36 million in 2023 to ₦1.07 billion in 2025.
• Interest income grew by 43.76%, hitting ₦61.43 million.
Falowo said: “Our performance shows consistent growth across all key metrics—trading income, profitability, and innovation. I’m proud we’re paying a cash dividend for the first time and confident the new leadership will sustain this momentum.”
What’s Next for NASD?
Incoming leadership, led by Olayimikah Bolo and Managing Director, Eguarekhide Longe, has ambitious plans:
• Grow liquidity by attracting more issuers.
• Expand the ‘One Company, Five Platforms’ strategy, which includes:
• The OTC Market
• Digital Securities Platform
• Venture Ramp
• NASDeP Enterprise Portal
• Commercial Paper Platform
• Harness opportunities in Nigeria’s economy to position NASD as a local and global capital markets leader.
Investor Reactions
Shareholders, including members of the Independent Shareholders Association of Nigeria (ISAN), praised NASD for reversing years of losses and delivering value:
• They urged stronger focus on cybersecurity, artificial intelligence (AI), business development, and more listings to deepen liquidity.
• Many expressed confidence that NASD has entered a new era of growth and profitability.
Bottom Line
With dividends, bonus shares, strong financials, and a pipeline of top Nigerian companies, the NASD OTC market is fast becoming a goldmine for investors seeking growth outside the traditional NGX.