Kwairanga urges stronger SME support to tackle unemployment, drive industrial growth
ABUJA, November 13, 2026
The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, has called for stronger institutional and financial support for Small and Medium Enterprises (SMEs), identifying them as critical to tackling unemployment, boosting local production and accelerating Nigeria’s industrial development.
Kwairanga made the call while delivering a goodwill message at the National Industrial and Entrepreneurship Policy Summit held on Thursday at Merit House Auditorium, Abuja. The event, organised by the Institute of Professional Industrialists and Management Development (IPIMD), also featured the presentation of an Award of Excellence to the NGX Group chairman.
He emphasised that creating an enabling environment for entrepreneurs to establish, sustain and expand their businesses would stimulate job creation, particularly among young Nigerians, while strengthening domestic production and the supply of essential goods and services.
According to him, addressing unemployment requires a coordinated approach involving government, the private sector, financial institutions and other relevant stakeholders, rather than relying exclusively on government-led interventions.
The NGX Group chairman described entrepreneurship and industrialisation as fundamental pillars of economic transformation, noting that they promote innovation, enhance business competitiveness and provide opportunities for sustainable employment.
He particularly highlighted the importance of access to patient and long-term capital in driving industrial expansion. He explained that the capital market serves as an important channel through which businesses can mobilise the financing required to scale operations, invest in productive ventures and strengthen their market positions.
Kwairanga further observed that an efficient capital market promotes transparency, encourages sound corporate governance and supports the development of resilient enterprises capable of contributing meaningfully to national economic growth.
He called for policy consistency, improved infrastructure, innovation and stronger institutional partnerships to address the challenges confronting businesses and establish a more supportive environment for enterprise development.
On regional trade opportunities, he encouraged Nigerian businesses to leverage the African Continental Free Trade Area (AfCFTA), stressing the need to build productive and competitive industries capable of accessing broader African markets.
Reflecting on his award, Kwairanga described the recognition as an acknowledgement of the progress achieved by his team at the Nigerian Exchange over the past decade. He said it would further encourage sustained efforts towards strengthening the capital market and contributing to Nigeria’s economic development.
He urged policymakers, financial institutions, business leaders and entrepreneurs to deepen collaboration and translate the country’s economic potential into tangible outcomes through industrial expansion, enterprise development and employment generation.
What Investors Need to Know
Strengthening the SME ecosystem remains essential to Nigeria’s industrialisation agenda. Improved access to affordable, long-term financing, consistent government policies, reliable infrastructure and stronger institutional partnerships would enable small businesses to expand production, attract investment, create employment and participate more effectively in regional and continental trade.
Source: News Agency of Nigeria (NAN)
Edited by Rosemary Aiyenale | Chamber Telegraph
