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The Nigerian Exchange Limited – NGX and the Bank of Industry – BOI have intensified their collaborative efforts to integrate Small and Medium-Sized Enterprises – SMEs into the nation’s formal capital market.

Following an inaugural session in Lagos, the partners recently hosted a workshop in Kano titled “Unlocking Growth – Harnessing the Capital Market for SME Growth.” This nationwide advocacy drive aims to transition businesses from informal operations to investment-ready enterprises, closing the persistent financing gap by connecting the SME ecosystem with sustainable, long-term capital sources.

During the engagement, leadership from both institutions emphasized that sustainable expansion requires a combination of funding and robust institutional frameworks. Group Chairman of NGX Group, Alhaji Umaru Kwairanga, highlighted Kano’s commercial importance as a gateway for economic potential, while NGX CEO Jude Chiemeka noted that structured governance is essential for demystifying the market and building investor confidence.

The initiative focuses on practical capacity building, equipping entrepreneurs with the necessary insights into governance standards and financing pathways required to scale within a formal market environment.

The Bank of Industry continues to play a pivotal role in this transition by providing essential support to businesses that do not yet meet strict listing requirements. Executive Director of MSMEs at BOI, Oluwatoyin Ahmed Edu, reaffirmed the bank’s commitment to bridging financing gaps through capacity-building programs designed to prepare viable businesses for future market entry.

This support is particularly crucial for the diverse entrepreneurial base in Northern Nigeria, which includes a rising number of resilient, women-led businesses as noted by representatives of the Emir of Kano.

To facilitate this growth, the workshop provided detailed guidance on utilizing the NGX Growth Board, a specialized platform designed specifically for SMEs to raise long-term capital. By addressing operational challenges and outlining corporate governance standards, the NGX and BOI are strengthening the institutional pathways necessary for SMEs to drive national economic growth.

This strategic push ensures that small businesses are not only funded but are also equipped with the structural integrity needed to survive and thrive despite prevailing macroeconomic headwinds.