The chairman of the Nigerian Exchange (NGX) Group Plc, Mr Umaru Kwairanga, has joined others to call for a unified action on capital formation.
At the 2025 Chartered Institute of Stockbrokers (CIS) National Workshop held at the Presidential Villa, Abuja, he stressed the importance of aligning capital market activity with the broader national economic agenda.
Mr Kwairanga also underscored the market’s role in financing infrastructure, supporting enterprise, and attracting both local and foreign investment as Nigeria pursues sustainable growth.
This view was also shared by the chief executive of the exchange, Mr Temi Popoola, who urged stakeholders to align their efforts toward building a market capable of mobilizing long-term capital and advancing Nigeria’s $1 trillion economy aspiration.
He described the market’s recent resurgence as a direct outcome of deliberate reforms, improved macroeconomic signals, and technological advancements across market infrastructure.
While acknowledging the momentum, he stressed that sustaining progress would require coordinated action among industry players, regulators, and policymakers to strengthen industries, empower institutions, and deepen market structures.
“The capital market stands at a pivotal point in Nigeria’s economic journey and with deliberate reforms and a strong regulatory environment, we have an opportunity to position the market as a key enabler of long-term capital formation, one that supports industries, empowers institutions, and scales our economy to new heights,” he submitted.
Mr Popoola highlighted NGX Invest, a platform designed to simplify market access for investors and issuers, which has already facilitated over N2 trillion in primary market transactions.
This, he noted, reflects growing confidence in the market and demonstrates what can be achieved when industry players, regulators, and institutions work in concert.
“These achievements are testament to what is possible when market operators, professionals, and institutions pull in the same direction,” Mr Popoola remarked, adding that stockbrokers play an indispensable role in product innovation, investor education, and expanding access to the capital markets.
On his part, the chairman of the Council of CIS, Mr Oluropo Dada, affirmed the institute’s commitment to fostering professionalism and integrity within the capital market, noting that a resilient and ethical market is critical to sustaining investor confidence and deepening participation.
Also, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, underscored the agency’s role in enabling capital formation as a core mandate of the market.
“Beyond investor protection and market development, our responsibility is to build a market where we can pool resources to power national growth. A $1 trillion economy may be a tall order, but with deliberate effort and the right structures, it is within reach,” Mr Agama stated, stressing that achieving this target will depend on collaborative effort across all segments of the financial market ecosystem.
On her part, the Minister of State for Finance, Ms Doris Anite, underscored the administration’s recognition of the capital market as a critical partner in financing national development.
“If we are to meet our ambitious targets, we must expand access to long-term capital, foster investor confidence, reinforce institutional frameworks, and above all, forge stronger linkages between capital markets and the real economy,” she stated, reaffirming the federal government’s commitment to working with stakeholders to streamline policies, deepen the fixed-income market, and expand access to green and impact finance instruments.
Representing Vice President Kashim Shettima, the Special Adviser to the President on Economic Affairs, Mr Tope Fasua, lauded the capital market’s recent performance, noting that the surge in market capitalization reflects renewed investor confidence and the early impact of bold reforms, calling on stakeholders to maintain momentum through innovation, policy advocacy, and ethical market conduct.
“The journey to a $1 trillion economy is ambitious, but it is achievable. It requires sustained commitment, collaborative effort, and a shared vision from all stakeholders, government, regulators, market operators, and investors,” Mr Fasua said.
The workshop served as a platform for aligning the perspectives of industry leaders, regulators, and policymakers on the need to strengthen Nigeria’s capital market as a cornerstone of economic expansion.
As the country pursues its ambition of achieving a $1 trillion economy, the collective resolve of stakeholders to deepen market capacity, foster professionalism, and promote innovation will be critical to ensuring that the capital market plays its rightful role in shaping the nation’s economic future.