The Lagos Chamber of Commerce and Industry, in collaboration with NASD Plc, has hosted a stakeholders’ forum in a bid to expose Small and Medium Enterprises to alternative sources of medium- and long-term financing 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.
Managing Director of NASD Plc, Eguarekhide Longe, said Nigerian businesses required greater access to growth capital, while investors needed more opportunities to deploy funds.
“Businesses require more financing options, investors require more opportunities, and the capital market provides the bridge,” he said.
Longe 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.
The Head of Research and Strategy at NASD Plc, Oludare Fajimolu, highlighted the benefits of utilising the Over-the-Counter Exchange, including multiple capital-raising solutions, a strong regulatory framework, improved market visibility, strategic partnerships, and direct access to investors.
The Director-General of LCCI, Dr Chinyere Almona, described the real sector as the engine of economic growth, stressing that operators required patient capital to expand and thrive. She noted that the forum aligned 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, the Deputy Director and Head of the Office of Advocacy for Small Business Capital Formation, Ojone Kabir, said the capital market offered a wide range of investment opportunities, including equities, fixed-income securities, and other asset classes. She urged participants to leverage those opportunities to scale and innovate their businesses.
Discussants at the event 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.