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Temi Popoola, Group Managing Director and Chief Executive Officer of the Nigerian Exchange Group (NGX), has said Nigeria’s ongoing economic reforms are already strengthening domestic capital formation and enhancing the country’s appeal to global investors.
Popoola made the remarks at the Nigeria–United Kingdom Investment Roundtable held in London, an event organised by the Nigerian Investment Promotion Commission (NIPC) in partnership with the Commonwealth Enterprise and Investment Council.
Drawing comparisons with emerging economies such as Indonesia, Brazil, and India, Popoola noted that countries that implement structural reforms often experience stronger domestic capital mobilisation and improved corporate financial health.
According to him, Nigeria is beginning to follow a similar trajectory, with increased participation from local investors and stronger responses from domestic corporates.
“The real test of reforms is what local capital does and how domestic corporates respond,” Popoola said. “In Nigeria today, local capital is playing a very strong role.”
He pointed to recent market performance as evidence of this shift, noting that equity markets recorded gains of over 50 percent in the past year, alongside increased capital raising activity, a resurgence of retail investor participation, and improvements in corporate governance standards.
Popoola also highlighted the long-standing capital market collaboration between Nigeria and the United Kingdom, noting that partnerships between the NGX and the London Stock Exchange have supported cross-border capital raising opportunities for companies in both markets.
Looking ahead, he said Nigeria’s capital market is evolving to play a broader role beyond fundraising, positioning itself as a platform for business expansion and wealth creation.
“We see a future where capital markets go beyond facilitating capital raising to supporting business expansion and wealth creation for Nigerians,” he said, adding that ongoing market modernisation and digital transformation are strengthening the country’s financial ecosystem.
Also speaking at the event, Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, outlined the Federal Government’s reform agenda focused on restoring macroeconomic stability, improving fiscal sustainability, and attracting long-term investment.
Meanwhile, Babajide Sanwo-Olu, Governor of Lagos State, emphasised Lagos’ position as a leading economic hub in Africa. He highlighted the state government’s collaboration with TheCityUK to further develop Lagos as a global financial centre and invited stakeholders to the upcoming Lagos Investment Forum scheduled for June.
In her opening remarks, Aisha Rimi, Chief Executive Officer of the Nigerian Investment Promotion Commission, said the roundtable was designed to strengthen investment ties between Nigeria and the United Kingdom.
She was joined by Lord Marland of the Commonwealth Enterprise and Investment Council, who stressed the importance of collaboration among governments, investors, and private-sector institutions in unlocking new opportunities across the Commonwealth.
The Nigeria–United Kingdom Investment Roundtable brought together policymakers, investors, and business leaders to explore avenues for deeper economic cooperation, as Nigeria continues to implement wide-ranging reforms aimed at driving sustainable growth and investment.
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