Trade Ministry, NGX Group Unveil Collaboration Plan for Economic Development

Nigerian Exchange Group Plc (NGX Group) hosted the Honourable Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, MFR, for a strategic engagement targeted at utilizing capital markets to boost Nigeria’s economic growth.

The visit ended with a ceremonial Closing Gong, symbolizing a stronger relationship between the government and the business sector to support industrial development, SME funding, and long-term economic reform.

Alhaji (Dr) Umaru Kwairanga, Group Chairman of NGX Group, greeted the Minister and praised the Ministry’s leadership in developing policies that support industrialization and economic diversification.

“As Nigeria works toward its goal of a $1 trillion economy, capital markets are important enablers for financing MSMEs, infrastructure projects, and sustainability initiatives. “NGX Group is committed to supporting this vision through innovative platforms that improve transparency, connect businesses with capital, and promote inclusive economic growth,” he stated.

Similarly, Ahonsi Unuigbe, Chairman of Nigerian Exchange Limited (NGX), emphasized the Exchange’s role as a catalyst for national development, stating that “capital markets are powerful engines of innovation, business expansion, and economic inclusion, all of which are essential to advancing Nigeria’s industrialisation objectives.”

Dr. Oduwole emphasized the strategic alignment between her Ministry and the NGX Group in promoting real-sector growth. “Our collaboration represents a concerted approach to harnessing capital markets as transformative platforms for Nigeria’s economic development,” she told me.

The Minister outlined key focus areas, such as increasing SME access to capital through NGX’s Growth Board initiatives, promoting green finance through ESG-linked products, mobilising diaspora investment, and capitalizing on AfCFTA opportunities to foster the next generation of high-growth Nigerian businesses.

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Temi Popoola, Group Managing Director/CEO of NGX Group, highlighted the company’s technology-driven strategy: “We are building a next-generation exchange ecosystem designed to democratize investment opportunities, enhance market liquidity, and position Nigeria as a competitive destination for both domestic and international capital.”

The engagement brought together important stakeholders from the capital market ecosystem, all of whom reiterated their commitment to supporting the Ministry’s objectives and contributing to Nigeria’s economic resilience.

The ceremonial Closing Gong reaffirmed the Federal Ministry of Industry, Trade, and Investment’s collaboration with the NGX Group, signaling a renewed commitment to long-term national growth. Both parties agreed to continue developing capital market solutions to drive Nigeria’s economic transition.