Nigeria built a tech board. No startup has bothered to list

Four years after its launch, the NGX Tech Board has attracted no startup listings. Why are Nigerian startups staying away, and what needs to change?
7 minute read
Nigeria built a tech board. No startup has bothered to list

Last week, OPay filed its prospectus ahead of a planned listing on the New York Stock Exchange.

Somewhere in the pages of the prospectus, it noted that a secondary listing on the Nigerian Exchange (NGX) was also on the cards.

Should it eventually happen, it would mark a major milestone for Nigeria’s capital market and help set the stage for more technology companies to follow. But whether or not that happens, questions must be asked about the NGX’s tech board and its stated goal of getting local technology companies to list on the exchange.

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Last updated: October 14, 2026

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