The Nigerian Exchange Limited and the Bank of Industry have reinforced their joint push to integrate small and medium-sized enterprises into Nigeria’s formal capital market, holding a structured workshop in Kano as part of a wider national engagement campaign.
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Beyond advocacy
The Kano workshop follows an inaugural edition held in Lagos last year, signalling a more deliberate effort by both institutions to bridge the gap between Nigeria’s SME ecosystem and long-term capital. Themed “Unlocking Growth – Harnessing the Capital Market for SME Growth,” the event moved beyond general advocacy to offer participants practical guidance on financing pathways, corporate governance, and long-term growth strategies within the capital market.
NGX Group Chairman Umaru Kwairanga described Kano as a fitting location for the engagement, noting the city’s long commercial history and its untapped economic potential. He stressed that enabling entrepreneurship requires more than access to funding and that the right institutional structures and market platforms are essential to unlocking sustainable growth.
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Capital access for underserved businesses
NGX Chief Executive Jude Chiemeka used the occasion to underscore the role of SMEs in deepening market resilience, noting that initiatives of this kind are designed to demystify the capital market and demonstrate that businesses with the right governance structures can raise long-term capital sustainably. The workshop featured detailed sessions on NGX listing requirements and the use of the NGX Growth Board as a structured pathway for SMEs seeking to raise funds outside traditional bank lending.
BOI Executive Director for MSMEs, Oluwatoyin Ahmed Edu, said the bank remains focused on bridging financing gaps for businesses that may not yet meet listing requirements, adding that where viable enterprises need capacity building before entering the market, BOI is positioned to support that transition.
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What this means for northern businesses
Delivering remarks on behalf of the Emir of Kano, Shehu Muhammed Dankade highlighted the region’s strong entrepreneurial base, particularly the growing participation of women-led businesses, describing it as a signal of resilience and economic potential. The session created direct engagement between both institutions and SME operators across Northern Nigeria, offering insights tailored to the specific financing challenges facing businesses in the region.
Analysts note that moves of this nature are critical in a market where long-term institutional capital remains largely inaccessible to smaller businesses, with most SMEs still dependent on short-term, high-cost credit to fund their operations.
