The Nigerian Exchange Limited (NGX) is evaluating a proposal to extend its trading hours from the current 9:30 a.m.–2:30 p.m. schedule to a full-day session running 9:00 a.m.–5:00 p.m.
Chief Executive Officer Jude Chiemeka disclosed the plan during a meeting with market operators on Tuesday.
“This engagement is the first, and we’ll certainly be coming back to this ecosystem in line with the aspiration of extending our trading hours,” he said.
Market participants noted that the idea has been under discussion for several years. Tajudeen Olayinka, a senior broker at Wyoming Capital, said support for the move is growing as stakeholders seek ways to deepen liquidity and attract global investors.
If adopted, the NGX would join leading exchanges with longer trading periods. For comparison, the New York Stock Exchange trades six and a half hours daily, the London Stock Exchange and Deutsche Börse operate for eight and a half hours, while the Tokyo Stock Exchange and Hong Kong Stock Exchange run for about five to five and a half hours. The Johannesburg Stock Exchange is even considering 24-hour operations.
Chiemeka explained that aligning with global standards would enhance liquidity and position the Nigerian capital market for foreign inflows. He also linked the proposal to broader reforms, including efforts to expand Islamic finance instruments, introduce blue and social bonds, and support government economic initiatives.
“It is relevant now that we begin preparations ahead of these changes, rather than wait until they happen,” he noted.
Abimbola Babalola, NGX Head of Trading and Products, confirmed that consultations with custodians and other market players will continue as part of the process.
