Despite global economic uncertainty, Nigeria’s capital market shows remarkable strength — Tayo

Tayo Orekoya, CEO of Pearl Awards, has sustained the recognition platform for 30 years. He described the award as a trusted advocate for excellence, transparency, and sustainable value creation in the Nigerian capital market. In this interview, Orekoya, who wants to extend the award beyond the shores of Nigeria, says the Nigerian capital market is benefiting from ongoing economic reforms and digital innovation. Daniel Obi brings the excerpts.

Congratulations on keeping PEARL Awards for 30 years. Kindly remind us about the concept, the journey and the secrets of sustaining PEARL Awards these years.

The PEARL Awards were established in 1995 with a clear vision—to promote excellence, transparency, and shareholder value creation in Nigeria’s capital market through objective performance measurement and recognition. Over the last three decades, the awards have evolved into one of the most respected capital market institutions in Nigeria, recognising quoted companies that consistently deliver superior returns and sustainable growth to investors.

One of the key sustaining concepts of the PEARL Awards was our decision to be different ab initio, for the awards to be based on empirical, verifiable facts and figures underpinned by good corporate governance. Added to this was the constitution of our Board of Governors over the years by committed, dedicated, and highly credible first-class professionals.

The journey has not been without challenges. We have witnessed market booms, downturns, regulatory reforms, economic cycles, and technological disruptions. However, our commitment to independence, credibility, professionalism, and data-driven assessment has remained unwavering. The secret of our sustainability lies in staying true to our founding principles, continuously innovating, maintaining stakeholder trust, and ensuring that every award reflects measurable performance and verifiable results.

How would you describe the Nigerian capital market today?

The Nigerian capital market today is more resilient, diversified, and strategically positioned than ever before. Despite global economic uncertainties and domestic reform challenges, the market has demonstrated remarkable capacity for recovery and growth. We are witnessing increased investor participation, stronger regulatory oversight, improved corporate disclosures, and growing interest in alternative asset classes.

The market is also benefiting from ongoing economic reforms and digital innovation, which are enhancing efficiency and transparency. While challenges remain, particularly around macroeconomic stability and investor education, the long-term outlook remains positive as the market continues to serve as a critical platform for mobilising capital for national development.

How would you say PEARL Awards has contributed to promoting transparency, corporate governance, and investor confidence over the years?

PEARL Awards has consistently encouraged listed companies to adopt global best practices in governance, disclosure, and performance management. By recognising organisations that demonstrate superior value creation, we provide benchmarks that motivate other companies to improve their standards.

The awards have also enhanced investor confidence by offering an independent assessment framework that highlights companies with strong performance records. Over the years, our emphasis on objective evaluation has helped reinforce the culture of accountability, transparency, and responsible corporate leadership within the Nigerian capital market.

What criteria do you apply in selecting winners, and how do you ensure the credibility and independence of the process?

The PEARL Awards employs a rigorous and transparent methodology based primarily on measurable market performance indicators and shareholder value creation metrics. Our assessment process relies on publicly available and independently verifiable data sourced from regulatory agencies, market operators, and audited corporate reports.

To ensure credibility and independence, the evaluation process is conducted by experienced professionals and reviewed through established governance structures, including the Technical Committee of our Board and final consideration and approval by the full board. The Awards maintain strict objectivity, with no room for lobbying or subjective influence. This commitment to integrity is one of the reasons PEARL Awards continues to enjoy the confidence of investors, regulators, and listed companies.

What role do the PEARL Awards play in encouraging listed companies to prioritise long-term value creation?

One of the unique strengths of the PEARL Awards is its focus on sustainable shareholder value rather than short-term market fluctuations. Companies understand that lasting recognition comes from consistent performance, sound governance, strategic execution, and responsible management practices.

As a result, the Awards encourage management teams to focus on long-term growth, innovation, operational excellence, and stakeholder value creation. This aligns corporate objectives with investor expectations and contributes to the overall health and competitiveness of the capital market.

How has the PEARL Awards remained relevant through the years of growth and challenges in the capital market?

Relevance comes from the ability to adapt while remaining faithful to one’s core purpose. The PEARL Awards have continuously evolved to reflect changes in the business environment, regulatory landscape, and investor expectations.

Beyond the awards ceremony itself, we now engage stakeholders through thought leadership initiatives such as the PEARL Corporate Summit, research publications, investor education, and digital engagement platforms. By creating year-round value for market participants, we have strengthened our role as a catalyst for market development and corporate excellence.

How can recognition through the PEARL Awards influence a company’s reputation among investors, customers, and other stakeholders?

Recognition by PEARL Awards serves as an independent validation of a company’s performance and commitment to value creation. For investors, it signals credibility, consistency, and sound management. For customers and business partners, it reinforces confidence in the company’s brand and operational strength. It is not surprising, therefore, that winning companies proudly display laurels won at the PEARL Awards, not only conspicuously in their corporate offices but also published in their annual reports and accounts.

The recognition also boosts employee morale, attracts potential investors, and strengthens stakeholder relationships. In a highly competitive business environment, such recognition differentiates companies and enhances their reputation as trusted and high-performing organisations.

How is the Awards platform adapting to emerging issues such as sustainability, ESG reporting, digital transformation, and innovation?

The future of corporate competitiveness extends beyond financial performance alone. Today’s investors increasingly evaluate companies based on sustainability practices, environmental responsibility, social impact, governance standards, innovation capacity, and digital readiness.

The PEARL Awards recognise these evolving realities and continue to explore ways of incorporating emerging performance indicators into its thought leadership and recognition framework. Through our corporate summit and stakeholder engagements, we actively encourage organisations to embrace ESG principles, digital transformation, innovation, and sustainable business practices as key drivers of long-term value.

What else do stakeholders in the capital market expect from PEARL Awards as the awards march on?

Stakeholders can expect PEARL Awards to continue serving as a trusted advocate for excellence, transparency, and sustainable value creation in the Nigerian capital market. We will deepen our research, expand stakeholder engagement, strengthen thought leadership platforms, and leverage digital channels to reach wider audiences.

As we look to the future, our goal is not only to recognise outstanding corporate performance but also to contribute meaningfully to policy discussions, investor education, corporate competitiveness, and the overall development of Nigeria’s capital market ecosystem. We remain committed to inspiring excellence and creating lasting value for investors, companies, and the nation. Ultimately, the goal is to take the awards beyond the shores of Nigeria by going continental with PEARL Awards Africa.