The Nigerian Exchange Limited (NGX) and the Bank of Industry (BOI) hosted a dynamic workshop aimed at equipping small and medium-sized enterprises (SMEs) with the tools and knowledge to tap into sustainable funding through Nigeria’s capital market.
The event, held in Lagos, convened entrepreneurs, investors, policymakers, and financial experts to address the pressing $158 billion funding gap facing Nigeria’s SME sector.
Rotimi Akinde, Executive Director of Corporate Finance and Investment at BOI, underscored the bank’s pivotal role in transforming the SME landscape. “Our mission goes beyond traditional lending,” Akinde stated. “Through initiatives like the SME Capital Access Facility, we provide technical assistance, guarantees, and co-investment opportunities to prepare SMEs for capital market participation.
This workshop is a vital step in empowering businesses to navigate and leverage Nigeria’s financial ecosystem for sustainable growth.” His remarks highlighted BOI’s commitment to fostering innovative financing models and strengthening the operational capacity of SMEs.
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The workshop featured robust discussions on alternative funding models, regulatory frameworks, and listing opportunities designed to support growing businesses. Experts emphasized the capital market’s potential to bridge the funding gap, offering SMEs pathways to scale operations and enhance competitiveness.
Jude Chiemeka, CEO of NGX, opened the event by reaffirming the Exchange’s dedication to SME development. “SMEs are the backbone of Nigeria’s economy, contributing nearly 50% of GDP and employing over 80% of the workforce,” Chiemeka noted. “Our collaboration with BOI reflects our shared vision to unlock capital market opportunities for these businesses, driving economic growth and resilience.”
