Nigeria’s next phase of economic growth will depend on its ability to mobilise long-term capital, strengthen investor confidence and create efficient pathways for businesses to scale, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola, has said.
At a recent interview, Popoola said an innovative and inclusive capital market would be central to unlocking Nigeria’s economic potential by supporting enterprise growth, financing critical sectors and enabling broader wealth creation.
He said Nigeria possesses the fundamentals to build one of Africa’s largest and most competitive capital markets, citing its youthful population, entrepreneurial culture and growing pipeline of businesses with the ambition to scale.
“Our approach is to build on Nigeria’s inherent strengths,” Popoola said. “Our youthful population, entrepreneurial spirit and rich cultural heritage are powerful advantages that provide a strong foundation for innovation, growth and value creation. These strengths position Nigeria to unlock new opportunities and play a more significant role on the global stage.”
According to him, the capital market plays a strategic role in economic development by connecting businesses seeking long-term financing with investors looking to create sustainable wealth.
“A well-functioning capital market is fundamental to economic development,” he said. “It channels savings into productive investments, provides businesses with access to long-term financing and enables individuals to participate in the country’s growth through wealth creation.”
Popoola has emphasized that deeper capital markets will be increasingly important as Nigeria pursues economic diversification and private sector-led growth, particularly in sectors such as technology, energy and agriculture, infrastructure and manufacturing.
The Nigerian capital market has continued to evolve through innovation and improved infrastructure, highlighting NGX Invest, the Exchange’s digital public offering platform, as a key initiative that has simplified access to primary market opportunities and expanded investor participation.
According to reports, the growing participation of domestic investors and increased accessibility of market products demonstrate the expanding role of the capital market beyond securities trading to becoming a key driver of national development.
He said increasing participation in the capital market remains a priority, noting that broader inclusion will strengthen market resilience and enable more Nigerians to benefit from economic growth.
Looking ahead, Popoola identified artificial intelligence as one of the defining technologies of the future, while highlighting energy and agriculture as sectors with significant potential to support Nigeria’s long-term development.
He reaffirmed NGX Group’s commitment to deepening Nigeria’s capital market and positioning the Exchange as a catalyst for sustainable economic growth.
“Our ambition extends beyond building a larger exchange,” Popoola said. “We are building a capital market that empowers businesses to grow, enables investors to build long-term wealth and supports Nigeria’s economic transformation.”
