NGX, BOI empower SMEs with skills to access funding through capital market

Nigerian Exchange Limited (NGX) and the Bank of Industry (BOI) organised an interactive workshop to empower small and medium-sized enterprises (SMEs) with the knowledge and resources needed to access sustainable funding through the capital market.

The event, held on Monday, 7 July 2025, brought together entrepreneurs, investors, policymakers, and financial experts to explore innovative financing solutions for Nigeria’s SME sector, which faces an estimated $158 billion funding gap. Discussions focused on alternative funding models, regulatory frameworks, and listing opportunities tailored for growing businesses.

Rotimi Akinde, Executive Director, Corporate Finance and Investment, BOI highlighted the development bank’s multifaceted approach to SME support. “Our role extends beyond traditional lending,” Akinde explained. “Through programs like our SME Capital Access Facility, we’re providing technical assistance, guarantees, and co-investment opportunities to prepare SMEs for capital market participation. This workshop represents a crucial step in our ongoing efforts to strengthen Nigeria’s SME ecosystem.”

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Jude Chiemeka, CEO of NGX, emphasised the Exchange’s commitment to supporting SME growth during his opening remarks. “SMEs form the backbone of Nigeria’s economy, contributing nearly 50 percent of GDP and employing over 80 percent of our workforce,” Chiemeka noted.

“However, too many of these businesses struggle to access the long-term capital needed for sustainable growth. Through initiatives like our Growth Board and partnerships with institutions like BOI, we’re creating structured pathways for SMEs to transition into investment-ready enterprises that can tap into capital market financing.”

The event featured in-depth sessions led by capital market experts, including Tony Ibeziako, NGX’s Head of Primary Markets, who detailed practical listing pathways available to SMEs through the Exchange’s Growth Board. Panel discussions brought together investment professionals from firms including Verod Capital and Chapel Hill Denham, who shared insights on attracting institutional investment and improving SME visibility in the capital markets.

Francis Meshioye, president, Manufacturers Association of Nigeria (MAN) contributed to discussions on policy reforms needed to encourage SME participation in capital markets, including potential tax incentives for listed SMEs.

NGX and BOI reaffirmed their commitment to ongoing collaboration, with plans to host quarterly investor-SME pitch sessions and continue advocating for policy reforms that support SME access to capital markets. The organizations emphasised their shared vision of transforming Nigeria’s SME financing landscape by leveraging the full potential of the capital markets.