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The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), Mr. Temi Popoola, has said that capital markets will play a central role in boosting trade and investment between Nigeria and Brazil.
Popoola made this known during a business session on the sidelines of President Bola Ahmed Tinubu’s state visit to Brazil, where both countries signed five Memoranda of Understanding to deepen bilateral relations.
According to him, NGX Group is well positioned as a gateway for cross-border capital flows and is creating more opportunities for small and medium-sized enterprises (SMEs) to access funding. He noted that Nigerian Exchange Limited, which is Africa’s second-largest stock market by transaction size, has almost doubled its market capitalisation in the last 18 months, now standing at about $90bn. The market currently covers equities, fixed income, derivatives, and alternative investments.
“Historically, exchanges have been platforms for large corporations, but the reality is shifting. Today, SMEs are critical to our economies, and exchanges must innovate to support their growth,” Popoola said.
He explained that NGX has introduced a Growth Board with lower entry requirements for smaller companies, partnered with the Bank of Industry to channel funding into businesses, and created alternative financing opportunities through private markets, crowdfunding, and receivables financing.
On foreign investment, Popoola stressed that Nigeria remains attractive to international investors. “It is easy to invest in Nigeria. Our markets are digital, intermediaries are established, and capital flows freely. Investors who typically allocate funds to Brazil as an emerging market also see Nigeria as a key frontier market,” he said.
One of the highlights of the visit was the signing of an MoU between the Managing Director of Nigeria’s Bank of Agriculture, Mr. Ayo Sotinrin, and Brazil’s Minister for the National Bank for Economic and Social Development, Mr. Aluísio Mercadante. The agreement is expected to boost agricultural financing, joint investments, and SME-driven projects.
The session brought together senior government officials and private sector leaders from both countries, with discussions focusing on expanding trade and investment opportunities beyond large corporations to include micro, small, and medium enterprises. Digital innovation was also identified as a key driver of future growth.
The Presidency has described President Tinubu’s state visit to Brazil as strategic, saying it is part of ongoing efforts to diversify Nigeria’s economy and strengthen partnerships with global economies.
