Lagos:Dr. Umaru Kwairanga, the Group Chairman of the Nigerian Exchange Group (NGX Group), has emphasized the need for enhanced collaboration among capital market stakeholders to bolster Nigeria’s capacity for mobilizing long-term funding essential for economic development.
According to News Agency of Nigeria, Dr. Kwairanga conveyed this message during the 30th anniversary celebration of the Association of Issuing Houses of Nigeria (AIHN) held in Lagos. He urged exchanges, regulators, issuing houses, stockbrokers, investors, and other stakeholders to work more closely to create a deeper, more accessible, and efficient capital market.
Kwairanga highlighted that stronger collaboration, professionalism, and innovation are vital to broadening access to capital and reinforcing the market’s role in economic growth. He acknowledged the significant contribution of issuing houses in Nigeria’s capital market by linking businesses and governments with capital sources, thereby transforming financing needs into investment opportunities and contributing to a more sophisticated financial system.
He encouraged AIHN to build on its past achievements while adapting to the evolving needs of issuers, investors, and the broader economy. Kwairanga emphasized the importance of maintaining high standards of professionalism, innovation, and collaboration which have been fundamental to AIHN’s market contributions.
The NGX Group chairman noted that Nigeria’s economic goals demand a capital market capable of mobilizing long-term funding, directing capital to productive enterprises, and broadening participation in wealth creation. He suggested that the AIHN anniversary should act as a catalyst for preparing the market to address emerging opportunities and challenges.
Kwairanga also called for stakeholders to leverage the growing connections among African capital markets to expand the capital pool available to businesses continent-wide. He underscored Nigeria’s pivotal role, given the depth and potential of its market, in advancing the development of Africa’s capital markets.
In conclusion, Kwairanga congratulated AIHN President, Mrs. Kemi Awodein, along with past presidents, executive committee members, and the association’s membership on its 30th anniversary.