L-R: Managing Director and Chief Executive Officer, NASD PLC,Eguarekide Longe; Director General, Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona; Vice President and Chairman, Business Education Services and Training (BEST) Unit, Sir Ladi Smith and Deputy Director and Head, Office of Advocacy for Small Business Capital Formation (OASBCF), Securities and Exchange Commission (SEC),Ojone Kabir during the LCCI-NASD PLC Strategic Stakeholders’ Forum held in Lagos… Wednesday
In a bid to expose Small and Medium Enterprises (SMEs) to alternative sources of medium- and long-term financing, the Lagos Chamber of Commerce and Industry (LCCI), in collaboration with NASD PLC, hosted a Stakeholders’ Forum in Lagos.
The forum, themed “Financing Growth: Propelling the Real Sector Through the Capital Market,” brought together entrepreneurs, regulators, and other stakeholders to discuss strategies for improving SMEs’ access to capital market funding.
Participants identified key requirements for attracting investment, including a clear business model, a well-defined growth strategy, sound corporate governance, audited financial statements, and transparent cash flow records.
Speaking at the event, Longe Eguarekhide, Managing Director of NASD PLC, said Nigerian businesses require greater access to growth capital, while investors need more opportunities to deploy funds.
“Businesses require more financing options, investors require more opportunities, and the capital market provides the bridge,” he said.
Eguarekhide explained that the forum was jointly initiated by NASD and LCCI to increase awareness of capital market opportunities for SMEs, facilitate access to funding, and foster strategic partnerships that support sustainable business growth.
Also speaking, Oludare Fajimolu, Head of Research and Strategy at NASD PLC, highlighted the benefits of utilising the Over-the-Counter (OTC) Exchange, including multiple capital-raising solutions, a strong regulatory framework, improved market visibility, strategic partnerships, and direct access to investors.
Director-General of LCCI, Dr. Chinyere Almona, described the real sector as the engine of economic growth, stressing that operators require patient capital to expand and thrive. She noted that the forum aligns with the Chamber’s commitment to helping its SME members access medium- and long-term financing through the capital market.
Representing the Director-General of the Securities and Exchange Commission (SEC), Ojone Kabir, Deputy Director and Head of the Office of Advocacy for SMEs, said the capital market offers a wide range of investment opportunities, including equities, fixed-income securities, and other asset classes. She urged participants to leverage these opportunities to scale and innovate their businesses.
During a panel session moderated by Fajimolu, discussants examined challenges limiting SMEs’ access to capital market funding, with inadequate business structure identified as a major obstacle.
The forum concluded with a call on SME promoters to strengthen transparency, accountability, and corporate governance practices to attract investors and improve their chances of securing capital market funding.
