Chairman of the Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has called on global investors to increase their investments in Nigeria, citing the country’s expanding capital market, abundant natural resources and ongoing economic reforms.
Kwairanga made the call while speaking at the Nigeria Investment Forum 2026 in New York on Thursday, September 25, where he addressed the theme, “Connecting Capital to Opportunity: Investing in Africa’s Next Frontier.”
He said Nigeria’s investment proposition had strengthened following reforms implemented by the Federal Government, including the removal of fuel subsidies, the unification of foreign exchange markets, monetary policy reforms and changes to the tax regime.
According to him, the reforms have had positive effects on the macroeconomic environment and business climate, with the capital market recording double-digit growth annually since 2023.
Kwairanga said attracting foreign capital should go beyond bringing funds into the country, stressing the need to create conditions that enable investors to deploy capital efficiently, support productive businesses and earn sustainable returns.
He identified investor confidence as critical to attracting and retaining capital, noting that sound regulation, credible corporate governance, transparency, market integrity and efficient market infrastructure were essential to building that confidence.
The NGX Group chairman said Nigeria’s country-risk profile had improved over the past three years, while the returns available to investors remained competitive.
He identified crude oil, solid minerals, agriculture and the country’s large youthful population as some of Nigeria’s major economic assets capable of supporting long-term growth.
“International investors have an important role in this journey. Foreign capital brings more than financing; it can also bring expertise, technology, global networks, institutional discipline and access to international markets,” he said.
Kwairanga said the NGX had continued to strengthen its role in supporting capital formation and economic growth by providing businesses with access to long-term financing while creating opportunities for investors.
He disclosed that the Exchange had recorded growth in market capitalisation, trading volumes and values in recent years, while millions of new investors had been brought into the market through licensed trading firms, marketing initiatives and digital platforms such as NGX Invest.
He also highlighted the growing number of companies seeking listings on the Exchange, citing the ongoing Dangote Refinery Initial Public Offering (IPO) as a major development in Nigeria’s capital market.
According to him, the Dangote Refinery IPO is setting records in terms of capital raised and subscriber participation on the African continent.
Kwairanga said the Exchange’s role extended beyond providing a platform for securities trading, stressing that a strong capital market should ultimately support business expansion, infrastructure financing, productive investment and broader ownership of economic assets.
He identified infrastructure financing, solid minerals, large-scale agriculture, fintech and tourism as areas offering significant opportunities for venture capital, private equity and other institutional investors.
He also encouraged individual investors to explore securities listed on the NGX’s premium and main boards, noting that more than 300 securities were available to investors.
The NGX chairman said more than 150 investment firms operating as trading licence holders of the Exchange were available to guide investors on accessing Nigerian financial assets and commodities.
Kwairanga urged global investors to consider Nigeria as part of their long-term investment strategy, describing the country as an economy with significant untapped potential.
“Nigeria is akin to China in the 1980s, a giant that is about to unleash its full potential,” he said, urging investors to participate in the country’s growth through the Nigerian Exchange.
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