NGX, BoI set to deepen SME financing drive

By Peter Egwuatu

Nigerian Exchange Limited (NGX) and Bank of Industry (BoI) have reinforced efforts to integrate Small and Medium-sized enterprises (SMEs) into Nigeria’s formal capital market as part of a broader national engagement drive at a workshop held in Kano yesterday.

This follows the inaugural edition held in Lagos last year, signalling a more structured push by both institutions to bridge the gap between Nigeria’s SME ecosystem and long-term capital.

According to a statement by NGX, the workshop with the theme, “Unlocking Growth – Harnessing the Capital Market for SME Growth,” moved beyond advocacy to practical engagement, equipping participants with insights on financing pathways, governance structures, and long-term growth strategies within the capital market.

Group Chairman of NGX, Dr. Umaru Kwairanga, said enabling entrepreneurship requires more than access to funding, noting that the right institutional structures and market platforms are critical to unlocking sustainable growth.

“Kano provides a fitting backdrop for this engagement, not only as a historic commercial hub but as a gateway to significant untapped potential. The priority is to connect that potential to capital and the frameworks required for long-term growth,” he said.

Chief Executive Officer of NGX, Jude Chiemeka, emphasised the central role of SMEs in strengthening market depth and resilience, noting that recent market performance continues to reflect investor confidence despite macroeconomic pressures.

“Through initiatives like this, we are demystifying the capital market and demonstrating that with the right structure and governance, SMEs can access capital to scale sustainably,” he said.

Executive Director, MSME, at BoI, Oluwatoyin Ahmed Edu, said the bank remains focused on bridging financing gaps for businesses that may not yet meet listing requirements.

“Where viable enterprises require capacity building before accessing the market, BoI is positioned to provide the necessary support to prepare them for that transition,” he noted.

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