NGX, BOI Deepen SME Financing Drive

Nigerian Exchange Limited (NGX) and Bank of Industry (BOI) have reinforced efforts to integrate small and medium-sized enterprises (SMEs) into Nigeria’s formal capital market, taking their financing advocacy to Kano as part of a broader national engagement drive.

The Kano workshop follows the inaugural edition held in Lagos last year, signalling a more structured push by both institutions to bridge the gap between Nigeria’s SME ecosystem and long-term capital.
With the theme, ‘Unlocking Growth – Harnessing the Capital Market for SME Growth’, the workshop moved beyond advocacy to practical engagement, equipping participants with insights on financing pathways, governance structures, and long-term growth strategies within the capital market.

Group chairman of Nigerian Exchange Group, Dr Umaru Kwairanga, said enabling entrepreneurship requires more than access to funding.
He noted that the right institutional structures and market platforms are critical to unlocking sustainable growth.

“Kano provides a fitting backdrop for this engagement, not only as a historic commercial hub but as a gateway to significant untapped potential. The priority is to connect that potential to capital and the frameworks required for long-term growth,” he said.

The chief executive officer of NGX, Jude Chiemeka, emphasised the central role of SMEs in strengthening market depth and resilience, noting that recent market performance continues to reflect investor confidence despite macroeconomic pressures.

“Through initiatives like this, we are demystifying the capital market and demonstrating that with the right structure and governance, SMEs can access capital to scale sustainably,” he said.
Executive director, MSME at BOI, Oluwatoyin Ahmed Edu, said the bank remains focused on bridging financing gaps for businesses that may not yet meet listing requirements.

“Where viable enterprises require capacity building before accessing the market, BOI is positioned to provide the necessary support to prepare them for that transition,” he noted.

Delivering remarks on behalf of the Emir of Kano, Alhaji 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 workshop featured detailed presentations from NGX on listing requirements, corporate governance, and the use of the NGX Growth Board as a platform for raising long-term capital. It also created space for direct engagement with SME operators across Northern Nigeria, offering insights into their challenges, growth ambitions, and readiness to access structured financing.

The initiative aligns with NGX Group’s broader strategy to position SMEs as a critical engine of economic growth, while strengthening the institutional pathways that enable businesses to transition from informal operations to investment-ready enterprises.