Popoola highlights reform impact on Nigeria’s capital market

The Nigerian Exchange Group Plc says Nigeria’s ongoing economic reforms are strengthening domestic capital formation and positioning the country for deeper global investment partnerships.

The group in a statement on Monday in Lagos quoted its Group Chief Executive Officer, Mr Temi Popoola, to have said this while speaking at the Nigeria–United Kingdom Investment Roundtable in London.

The event was organised by the Nigerian Investment Promotion Commission in collaboration with the Commonwealth Enterprise and Investment Council.

Drawing comparisons with countries such as Indonesia, Brazil and India, Popoola said economies that implemented structural reforms often experienced strong domestic capital mobilisation and improved corporate balance sheets.

According to him, Nigeria is currently witnessing a similar trend as local investors and corporates respond to policy reforms.

“The real test of reforms is what local capital does and how domestic corporates respond.

“In Nigeria today, local capital is playing a significant role.

“The market rose by more than 50 per cent last year, issuers are raising new capital, retail investors are returning to the market, and corporate balance sheets and governance standards are improving,” he said.

Popoola also highlighted the capital market relationship between Nigeria and the United Kingdom.

He said collaboration between the Nigerian Exchange Group and the London Stock Exchange had helped facilitate cross-border capital raising for companies in both markets.

Popoola also said Nigeria’s capital market was positioning itself to support larger transactions and expand wealth creation opportunities.

“We see a future where capital markets go beyond capital raising to supporting business expansion and wealth creation for Nigerians,” he said.

He added that ongoing market modernisation and digital transformation were strengthening the country’s financial ecosystem.

Also speaking at the roundtable, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, highlighted the Federal Government’s reform agenda aimed at restoring macroeconomic stability, strengthening fiscal sustainability and attracting long-term investment.

Meanwhile, the Governor of Lagos State, Mr Babajide Sanwo-Olu, emphasised Lagos’ role as a leading economic hub in Africa.

He spoke about the state government’s collaboration with TheCityUK to further develop Lagos as a global financial and investment centre.

Sanwo-Olu also invited participants to the upcoming Lagos Investment Forum scheduled to hold in June.

Earlier in her remarks, Ms Aisha Rimi, Chief Executive Officer of the Nigerian Investment Promotion Commission, said the roundtable was aimed at strengthening investment partnerships between Nigeria and the United Kingdom.

She was joined by Lord Marland of the Commonwealth Enterprise and Investment Council, who emphasised the importance of collaboration among governments, investors and private sector institutions in unlocking investment opportunities across the Commonwealth.

The Nigeria–United Kingdom Investment Roundtable brought together policymakers, investors and business leaders to explore opportunities for deeper investment collaboration as Nigeria continues to implement economic reforms.