The Federal Government has called on the Nigerian Exchange Group (NGX) to take a leading role in supporting Nigeria’s ambitious target of becoming a $1 trillion economy by the year 2030.
This charge was delivered by the Minister of Industry, Trade and Investment, Jumoke Oduwole, during the official ‘Closing Gong’ ceremony held on Monday at the NGX headquarters in Lagos.
Speaking at the event, Oduwole underscored the vital role of the capital market in driving sustainable economic growth, investment inflows, and job creation. She noted that the ministry would work closely with the capital market to attract both local and foreign investment, particularly Foreign Direct Investment (FDI).
“We have a target to attract $6 billion in investment this year, split evenly between portfolio investments and FDI,” the Minister stated. “This is in addition to the other investment commitments already announced by the President, which are currently being tracked.”
Oduwole also praised the capital market’s efforts in stabilizing the economy and attracting critical foreign investments. She urged the NGX to remain proactive, vibrant, and innovative in supporting Nigeria’s economic recovery and transformation.
In response, Chairman of the NGX Group, Umaru Kwairanga, assured the government of the market’s readiness to partner with relevant ministries in actualizing the $1 trillion economy goal. He also commended the recent signing of the Investments and Securities Bill 2025 into law, describing it as a significant milestone that would enhance the efficiency and credibility of Nigeria’s capital market.
Also speaking, the Chairman of NGX Limited, Ahonsi Unuigbe, reiterated the Exchange’s commitment to supporting the private sector through alternative funding options, particularly for small and medium-sized enterprises (SMEs).
Temi Popoola, Group Managing Director of NGX Group, highlighted the Exchange’s capacity to unlock capital for various sectors through innovative instruments such as green bonds and Sukuk. He emphasized that the market offers viable alternatives to conventional banking and is aligned with the government’s economic and environmental objectives.
Jude Chiemeka, Chief Executive Officer of NGX Limited, added that the Exchange’s multi-asset platform which includes equities, fixed income, and exchange-traded funds (ETFs) presents diverse opportunities for capital formation and market liquidity.
