Temi Popoola, group managing director/chief executive officer of Nigerian Exchange Group Plc has said Nigeria’s ongoing economic reforms are already strengthening domestic capital formation and positioning the country for deeper global investment partnerships.
Popoola made this known while speaking at the Nigeria–United Kingdom Investment Roundtable organised by the Nigerian Investment Promotion Commission in collaboration with the Commonwealth Enterprise and Investment Council in London.
Drawing comparisons with countries such as Indonesia, Brazil and India, Popoola noted that economies that implemented structural reforms often witnessed strong domestic capital mobilisation and strengthened corporate balance sheets.
According to him, Nigeria is currently experiencing a similar trend as local investors and corporates increasingly respond to policy reforms. “The real test of reforms is what local capital does and how domestic corporates respond,” Popoola said. “In Nigeria today, local capital is playing a very strong role. Markets were up more than 50% last year, issuers are raising new capital, retail investors are returning to the market, and corporate balance sheets and governance standards are improving.”
He also highlighted the strong capital market relationship between Nigeria and the United Kingdom, noting that collaboration between the Nigerian Exchange Group and the London Stock Exchange has helped facilitate cross-border capital raising for corporates in both jurisdictions.
Looking ahead, Popoola said Nigeria’s capital market is positioning itself to support larger transactions and broader wealth creation opportunities. “We see a future where capital markets go beyond facilitating capital raising to supporting business expansion and wealth creation for Nigerians,” he said, adding that continued market modernisation and digital transformation are strengthening the country’s financial ecosystem.
Also speaking at the roundtable, Wale Edun, Minister of Finance and Coordinating Minister of the Economy highlighted the Federal Government’s reform agenda aimed at restoring macroeconomic stability, strengthening fiscal sustainability and attracting long-term investment into the country.
Meanwhile, the Governor of Lagos State, Babajide Sanwo-Olu, emphasised Lagos’ role as a leading economic hub in Africa and spoke about the state government’s collaboration with TheCityUK to further develop Lagos as a global financial and investment centre. He also invited participants to the upcoming Lagos Investment Forum scheduled to take place in June.
Earlier in her welcome remarks, Aisha Rimi, Chief Executive Officer of the Nigerian Investment Promotion Commission noted that 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 underscored the importance of collaboration between governments, investors and private sector institutions in unlocking new 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 between both countries as Nigeria continues to implement wide-ranging economic reforms.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
