Experts Urge 50% Free Float to Boost Liquidity on Nigerian Exchange

Financial experts are urging the Nigerian Exchange and regulators to raise the minimum free float for Main Board companies from 20% to 50%. They argue that a higher public shareholding would improve liquidity and make trading more active and efficient. Currently, Main Board firms must meet a 20% public free float or a minimum market value. The Premium Board requires more, while the Growth Board allows just 10%–15%. Analysts say extending trading hours alone won’t fix low liquidity. They believe increasing the number of shares available for trading is the most important step. With the NGX set to extend hours from April 27, 2026, experts say a 50% free float rule could draw more investment into Nigerian stocks.

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