NGX chairman urges business leaders to create capital market wealth

Dr Umaru Kwairanga, the Chairman of Nigerian Exchange Group, has called upon Nigerian business leaders to play a more significant role in advancing the country's capital market. During a recent webinar, Kwairanga encouraged these leaders to accept greater responsibility for deepening the capital market, fostering wealth creation, and bolstering the national economy through increased participation in the market.

In his presentation titled 'Developments in the Nigerian Stock Market: Strategic Benefits for Businesses and Business Leaders,' Kwairanga examined the impact of recent market developments on businesses, investors, and the Nigerian economy. He stressed that businesses should no longer view the capital market solely as a source of financing, but rather as a strategic platform for constructing more robust, accountable, and globally competitive enterprises.

One key example Kwairanga highlighted was the recent Dangote Refinery Initial Public Offering, which he considered a significant milestone in the evolution of Nigeria's capital market. He argued that major corporate listings offer broader implications, including stimulating investor awareness, expanding market participation, and enhancing market liquidity.

Kwairanga urged businesses, particularly family-owned and founder-led enterprises, to improve their corporate governance, financial reporting, risk management, and strategic planning to attract sustainable investment and access long-term capital. He emphasized that while raising capital is valuable, the ability to deploy it productively, create jobs, and generate sustainable returns is what truly drives business success.

The Chairman also acknowledged the positive effects of Nigeria's economic reforms on the capital market, noting improvements in foreign exchange availability, business planning stability, and investor interest. He reported that the NGX All-Share Index rose by 51.19% in 2025, and equities market capitalisation increased from N62.76tn to N99.38tn.

As of October 26, 2026, the Index had gained approximately 61.48% year-to-date, with equities market capitalisation reaching N163.16tn. Key factors in the market's transformation include market reforms, technological innovation, and improved access to capital-raising platforms, particularly through NGX Invest, the Group's digital capital-raising platform, which facilitated over ₦3tn in capital across more than 23 transactions.

The event, organized by ILCS as part of its mission to advance leadership knowledge and professional development, attracted business leaders, directors, corporate executives, and public sector professionals.