Popoola: Capital Market Must Drive Inclusive, Responsible Wealth Creation

Nume Ekeghe 

The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc (NGX Group), Temi Popoola, has said Nigeria’s capital market must move beyond simply generating wealth to ensuring that prosperity is inclusive, sustainable and built on strong governance.

Speaking at the 2026 Nairametrics Capital Market Awards in Lagos over the weekend, Popoola said the future strength of the Nigerian economy would depend not only on its ability to create wealth but also on how that wealth is generated, shared and sustained.

Addressing regulators, investors, market operators and business leaders, he described the capital market as a critical platform for mobilising capital into productive sectors, supporting innovation, creating jobs and driving long-term economic development.

“When we talk about wealth creation, the question is no longer whether wealth can be created. The more important question is how it is created, who participates in it, and what impact it leaves behind,” he said.

Popoola noted that global investors are increasingly directing capital towards markets that demonstrate transparency, resilience and sound governance.

“In this environment, potential is not enough. What attracts capital is confidence in institutions, governance and market integrity,” he stated.

According to him, responsible wealth creation requires a shift from short-term gains to sustainable value creation, with businesses, investors and regulators embracing accountability, transparency and long-term thinking.

He also stressed the importance of inclusion, saying market development can only achieve its full potential when investment opportunities are accessible to a wider segment of society.

“A strong capital market is one that broadens access and participation across geography, gender, age and background. Wealth creation only becomes meaningful when it is widely accessible,” he said.

Popoola highlighted rising retail investor participation as one of the most positive developments in the market, attributing the trend to improved financial literacy and digital innovation.

He cited the success of NGX Invest, the Exchange’s digital platform for primary market offerings, which played a key role during the banking sector recapitalisation exercise. According to him, the platform facilitated capital raises exceeding N2.8 trillion while onboarding more than two million retail investors in 2025.

“Beyond the numbers, this demonstrated how technology can democratise access to investment opportunities and connect more Nigerians directly to wealth creation,” Popoola said.

He added that sustainability is becoming an increasingly important factor in investment decisions globally, with investors paying closer attention to governance standards, environmental sustainability and social impact alongside financial performance.

Popoola expressed confidence in Nigeria’s long-term prospects, citing its youthful population, entrepreneurial culture and growing innovation ecosystem. However, he said these advantages must be matched by stronger institutions, policy consistency and investor confidence.

“Capital markets have a critical role to play by mobilising long-term capital, supporting business expansion and connecting innovation with investment,” he said.

He also called for greater collaboration between the public and private sectors to strengthen market infrastructure and support economic transformation.

Earlier, Founder and Chief Executive Officer of Nairametrics, Ugodre Obi-Chukwu, said the awards were designed to recognise excellence, resilience and innovation within Nigeria’s capital market ecosystem while promoting responsible wealth creation.

He said that despite global economic uncertainty, tighter financial conditions, exchange-rate volatility and domestic challenges, the Nigerian capital market had remained resilient over the past year.

According to Obi-Chukwu, the market has benefited from increased retail participation, stronger investor confidence, improved corporate earnings, innovative financial products and greater emphasis on transparency and governance.

“These achievements did not happen by chance. They are the result of the deliberate efforts of regulators committed to market integrity, operators focused on innovation, issuers building sustainable businesses, investors making long-term commitments and professionals working tirelessly behind the scenes to keep the ecosystem moving forward,” he said.

He noted that the theme of this year’s awards, “Capital Markets as a Pathway to Responsible Wealth Creation,” reflects growing recognition that wealth creation must be sustainable, ethical and capable of generating long-term value.

“Wealth creation must go beyond short-term gains. It must be sustainable, inclusive, ethical and capable of creating lasting value for individuals, businesses and society at large,” Obi-Chukwu said.

He also underscored the role of financial journalism in supporting investor education and market development.

“Accurate financial journalism, data-driven analysis and investor education remain essential pillars for market development,” he noted.

Both speakers agreed that recognition platforms such as the Nairametrics Capital Market Awards help strengthen market standards by celebrating excellence and encouraging best practices.

The awards recognised outstanding performers across Nigeria’s capital market ecosystem. MTN Nigeria Plc emerged as Company of the Year and also won Utilities & Infrastructure Company of the Year, while Zenith Bank was named Tier-One Bank of the Year (FUGAZ) and Wema Bank won Commercial Bank of the Year. Other notable winners included Seplat Energy Plc, which secured both Energy Company of the Year and Dividend Paying Company of the Year; AIICO Insurance Plc as Insurance Company of the Year; Guinness Nigeria Plc as Consumer Goods Company of the Year; Lafarge Africa Plc as Industrial Goods Company of the Year; and Transcorp Group as Diversified Company of the Year. The Nigerian Exchange Limited won Exchange of the Year, while the Securities and Exchange Commission received the Market Reforms Initiative of the Year award. The Nairametrics Capital Market  Award was presented to PENCOM in recognition of its contribution to the development of Nigeria’s capital market.