Kwairanga Bags Excellence Award, Says Nigeria’s Capitalisation Hits N165trn, Records N135trn Growth Under Tinubu

 By Genesis Ogiri

The Group Chairman of the Nigerian Exchange Group (NGX Group), Alhaji Dr. Umaru Kwairanga, has received an Excellence Leadership Award from the Institute of Professional Industrialists and Management Development, while disclosing that Nigeria's capital market has recorded an impressive N135 trillion growth in market capitalisation within the last three years under the administration of President Bola Ahmed Tinubu.

Kwairanga, who spoke with journalists shortly after receiving the award at the Nigerian National Merit Award House, Maitama, Abuja, attributed the market's expansion to increased institutional support from the present administration, noting that market capitalisation had risen from approximately N30 trillion to N165 trillion within the period under review.

He described the development as a significant milestone in the evolution of Nigeria's capital market, stressing that its expanding financial capacity could be strategically deployed to mobilise investments, stimulate economic activities and accelerate national development.

According to him, the capital market remains a critical instrument for transforming the Nigerian economy, adding that the Federal Government's ambition of building a $1 trillion economy is achievable through effective financial intermediation, investment mobilisation and deliberate economic planning.

"We have been able to turn around Nigeria's capital market after we received support when this administration came in. In the last three years, we have moved from N30 trillion to N165 trillion in terms of market capitalisation," he said.

The NGX chairman also emphasised the importance of small and medium-sized enterprises (SMEs) to economic sustainability, describing them as the backbone of every economy. He maintained that no nation could achieve meaningful and inclusive economic development without creating an enabling environment for SMEs to thrive, expand and contribute to wealth creation.

On infrastructure development, Kwairanga called for deliberate efforts to strengthen the country's infrastructure base, arguing that sustainable economic transformation requires substantial long-term financing. He noted that critical infrastructure projects must be supported by funding structures capable of accommodating their extended development and investment cycles.

He cautioned against excessive reliance on short-term funding arrangements, particularly those associated with conventional banking institutions, explaining that long-term infrastructure development requires patient capital. He consequently advocated greater mobilisation of pension funds and other institutional investment resources to finance infrastructure and productive sectors of the economy.

The award ceremony recognised Kwairanga's leadership and contributions to the Nigerian capital market. His remarks further underscored the strategic importance of deepening the capital market as a platform for financing enterprises, supporting infrastructure development and advancing Nigeria's broader economic ambitions.

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