The Lagos Chamber of Commerce and Industry in collaboration with NASD Plc has organised a stakeholders’ forum aimed at exposing Small and Medium Enterprises (SMEs) to alternative sources of medium- and long-term financing in Lagos.
Speaking at the event, the Managing Director of NASD Plc, Mr Eguarekhide Longe, said Nigerian businesses need greater access to growth capital while investors also require more opportunities to deploy funds.
“Businesses require more financing options, investors require more opportunities, and the capital market provides the bridge,” he said.
The forum, themed “Financing Growth: Propelling the Real Sector Through the Capital Market,” brought together entrepreneurs, regulators, and financial experts to explore strategies for improving SME access to capital market funding and boosting private sector growth.
Participants emphasised that businesses seeking investment must demonstrate a clear business model, defined growth strategy, sound corporate governance, audited financial statements, and transparent cash flow records.
Mr Longe explained that the forum was jointly initiated by NASD Plc and LCCI to raise awareness about capital market opportunities and promote strategic partnerships that support sustainable business expansion.
He added that the Over-the-Counter (OTC) market offers SMEs multiple capital-raising options, improved visibility, regulatory backing, and direct access to investors.
Call for stronger SME structure and governance
The Head of Research and Strategy at NASD Plc, Mr Oludare Fajimolu, highlighted that inadequate business structure remains a major barrier preventing SMEs from accessing capital market funding.
He noted that improved transparency and governance standards would significantly increase investor confidence and participation in SME financing.
LCCI stresses role of real sector
The Director-General of LCCI, Dr Chinyere Almona, described the real sector as the engine of economic growth, stressing the need for patient capital to support business expansion.
She said the initiative aligns with the chamber’s goal of helping SME members access long-term financing through the capital market.
SEC urges SMEs to tap investment opportunities
Representing the Director-General of the Securities and Exchange Commission (SEC), Deputy Director Ojone Kabir encouraged SMEs to take advantage of diverse investment instruments such as equities, fixed-income securities, and other asset classes to scale their operations.
She urged entrepreneurs to leverage capital market platforms to innovate and expand their businesses sustainably.
Focus on transparency and investor confidence
During a panel session moderated by Mr Fajimolu, stakeholders discussed key challenges facing SMEs, with weak business structures and poor financial documentation identified as major obstacles.
The forum concluded with a strong call for SME operators to strengthen accountability, transparency, and corporate governance in order to attract investors and improve access to capital market funding.
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