The Lagos Chamber of Commerce and Industry (LCCI), 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 through the capital market.
The forum, themed “Financing Growth: Propelling the Real Sector Through the Capital Market,” brought together entrepreneurs, regulators, investors, and other stakeholders to explore strategies for improving SMEs’ access to capital and accelerating business growth.
Participants at the event identified key factors that can enhance SMEs’ ability to attract investment. These include having a clear business model, a well-defined growth strategy, strong corporate governance structures, audited financial statements, and transparent cash flow records.
Speaking at the forum, the Managing Director of NASD Plc, Eguarekhide Longe, said the Nigerian economy would benefit from stronger connections between businesses seeking growth capital and investors looking for viable opportunities.
“Businesses require more financing options, investors require more opportunities, and the capital market provides the bridge,” Longe said.
He explained that the initiative was jointly developed by NASD and LCCI to raise awareness of capital market opportunities available to SMEs, improve access to funding, and encourage strategic partnerships that support sustainable business expansion.
Also speaking, the Head of Research and Strategy at NASD Plc, Oludare Fajimolu, highlighted the advantages of leveraging the Over-the-Counter (OTC) Exchange. According to him, businesses can benefit from diverse capital-raising options, a robust regulatory framework, enhanced market visibility, strategic partnerships, and direct access to investors.
The Director-General of LCCI, Dr Chinyere Almona, described the real sector as a critical driver of economic growth. She noted that businesses operating within the sector require patient capital to expand, innovate, and remain competitive.
Almona said the forum reflected the chamber’s commitment to supporting its SME members by providing pathways to medium- and long-term financing through the capital market.
Representing the Director-General of the Securities and Exchange Commission (SEC), the Deputy Director and Head of the Office of Advocacy for Small Business Capital Formation, Ojone Kabir, encouraged entrepreneurs to take advantage of opportunities available within the capital market.
She noted that the market offers a broad range of investment instruments, including equities, fixed-income securities, and other asset classes that can help businesses scale operations and drive innovation.
During a panel discussion moderated by Fajimolu, participants examined some of the challenges limiting SMEs’ access to capital market funding. Inadequate business structure emerged as one of the major barriers preventing many enterprises from attracting investors.
The forum concluded with a call for SME promoters to strengthen transparency, accountability, and corporate governance practices. Stakeholders noted that adopting these measures would improve investor confidence and increase businesses’ chances of securing long-term capital for growth and expansion.
