Temi Popoola, Staff Managing Director and Leader Govt Officer of Nigerian Alternate Staff Plc (NGX Staff), has highlighted the rising scale of capital formation in Nigeria and throughout Africa.
In keeping with a observation from NGX, Popoola made the remarks on the Nigeria–Asia Monetary Connectivity Discussion in Singapore, hung on October 8 and 9, 2026, the place economic marketplace leaders explored alternatives to deepen funding flows and make stronger economic connectivity between the 2 areas.
The programme introduced in combination policymakers, traders, world economic establishments and marketplace infrastructure suppliers. J.P. Morgan and the Central Financial institution of Nigeria (CBN) hosted the discussion in collaboration with NGX Staff and FMDQ Staff.
Nigeria Sees More potent Capital Formation
Talking on a panel moderated by means of J.P. Morgan’s Leader Economist for Africa, Gbolahan Taiwo, Popoola mentioned Nigeria and Africa are witnessing their most powerful capital formation in years.
“We’re witnessing a degree of capital formation in Nigeria and at the continent that we truly haven’t noticed in a long time,” Popoola mentioned. Nigeria’s capital-raising process displays this momentum, with banks elevating roughly N4.65 trillion beneath the continuing recapitalisation programme and the Dangote Petroleum Refinery Preliminary Public Providing (IPO) in the hunt for to boost N2.15 trillion.
- Popoola highlighted the function of distribution infrastructure in broadening participation within the Dangote be offering, noting that integration with stockbrokers, banks and fintech platforms is making subscriptions extra out there to Nigerians at house and out of the country, in addition to traders throughout Africa and past.
- He additionally known alternatives to draw extra firms to the capital marketplace, noting that agriculture, generation, infrastructure and healthcare stay underrepresented.
- With personal capital more and more competing with public markets for company investment, he stressed out the significance of demonstrating the advantages of native listings and growing an enabling surroundings for companies to boost capital throughout the marketplace.
Those traits, he famous, replicate alternatives to increase capital formation and deepen participation in Nigeria’s capital marketplace.
Nigeria Deepens Capital Marketplace Connectivity
Nigeria’s capital marketplace has recorded traits in infrastructure and world accessibility, together with the transition to a T+1 agreement cycle in June 2026 and the rustic’s reclassification to Frontier Marketplace standing by means of FTSE Russell in September.
Those milestones reinforce extra environment friendly marketplace operations and make stronger the framework for world investor participation.
- Discussions on the discussion coated Nigeria’s reform programme, capital mobilisation, foreign currencies marketplace self belief and the improvement of deeper, extra liquid markets.
- The panel additionally featured Zeal Akaraiwe, Staff Managing Director and Leader Govt Officer of FMDQ Staff; Aderinola Shonekan, Director of the Business and Alternate Division on the CBN; and Olumayokun Ajibade, Particular Adviser to the CBN Governor on Monetary Markets and Financial Coverage.
The discussions shaped a part of broader efforts to make stronger economic connectivity and beef up alternatives for funding between Nigeria, Africa and Asia.
Cardoso Stresses Investor Self belief
In a separate hearth chat, CBN Governor Olayemi Cardoso underscored the significance of investor self belief in maintaining long-term capital flows.
“The actual take a look at of reform isn’t whether or not you’ll draw in capital as soon as; it’s whether or not you create the arrogance for capital to stick, go back and develop,” he mentioned, mentioning credible financial coverage, more potent governance, stepped forward marketplace functioning and predictable law as very important to sustained funding.
Popoola additionally joined Cardoso and representatives of the CBN, FMDQ Staff and J.P. Morgan for an engagement with Singapore Alternate Staff (SGX Staff) to discover alternatives for institutional collaboration between Nigerian marketplace operators and their Singaporean opposite numbers.
The engagement builds on NGX Staff’s world outreach, together with interactions with the Johannesburg Inventory Alternate, Nationwide Inventory Alternate of India, B3 in Brazil and Nasdaq in the USA, in addition to relationships with African marketplace establishments such because the Ethiopian Securities Alternate and Nairobi Securities Alternate.
The programme additionally featured discussions between the CBN and the Financial Authority of Singapore on financial-sector construction, law and innovation. It incorporated the signing of a Memorandum of Figuring out between the CBN and the World Finance & Generation Community to determine a framework for cooperation on economic innovation.
Via those engagements, NGX Staff targets to make stronger world relationships that reinforce home marketplace construction, increase get right of entry to to capital for Nigerian companies and create alternatives for world traders to take part in Nigeria’s financial progress.
What you must know
In August 2026, Popoola called on President Bola Ahmed Tinubu to reinforce insurance policies that will inspire main firms running in Nigeria, in particular high-growth fintech companies, to listing at the home inventory trade.
At a gathering with the President, Popoola expressed fear that a number of firms producing important revenues and earnings from Nigeria have been making plans to flow their stocks on overseas exchanges, restricting alternatives for native traders to take part of their progress.
He argued that whilst Nigeria must proceed to reinforce loose and open capital markets, native traders must even have get right of entry to to the wealth created throughout the nation.