Group Chairman, Nigerian Exchange Group (NGX Group), Dr Umaru Kwairanga, has called for stronger collaboration among capital market stakeholders to deepen Nigeria’s capacity to mobilise long term funding for economic development.

Mr Kwairanga made the call in a goodwill message at the 30th anniversary celebration of the Association of Issuing Houses of Nigeria (AIHN) in Lagos on Wednesday night.

He said exchanges, regulators, issuing houses, stockbrokers, investors and other stakeholders must work more closely to build a deeper, more accessible and efficient capital market.

According to him, stronger collaboration, professionalism and innovation are critical to expanding access to capital and strengthening the market’s contribution to economic growth.

He said issuing houses had played an important role in Nigeria’s capital market by connecting businesses and governments with sources of capital.

“They have helped transform financing needs into investible opportunities, supported enterprise and contributed to the development of a more sophisticated financial system,” he said.

Mr Kwairanga urged AIHN to build on its achievements over the past three decades while adapting to the changing needs of issuers, investors and the wider economy.

“I encourage the association to continue strengthening the standards of professionalism, innovation and collaboration that have underpinned its contribution to the market,” he said.

The NGX Group chairman said Nigeria’s economic ambitions required a capital market capable of mobilising long term funding, directing capital to productive enterprises and broadening participation in wealth creation.

He said the AIHN anniversary should serve as a platform for preparing the market to respond to emerging opportunities and challenges.

He stated, “Our task is not simply to preserve what has been built over the last three decades. It is to build a market that is deeper, more accessible and better equipped to meet the financing needs of the economy in the decades ahead.”

Mr Kwairanga also urged stakeholders to leverage growing links among African capital markets to expand the pool of capital available to businesses across the continent.

He said Nigeria, given the depth and potential of its market, had an important role to play in advancing the development of Africa’s capital markets.

Mr Kwairanga congratulated AIHN President, Kemi Awodein, past presidents, executive committee members and the association’s membership on its 30th anniversary. (NAN)