Nigeria’s ongoing economic reforms are strengthening domestic capital formation and positioning the country for deeper global investment partnerships, according to Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc.
Popoola made the remarks while speaking at the Nigeria–United Kingdom Investment Roundtable organised by the Nigerian Investment Promotion Commission in collaboration with the Commonwealth Enterprise and Investment Council in London.
He noted that foreign portfolio investment into Nigeria has remained strong in 2025. As of September 2025, foreign portfolio investment stood at $2.512 billion, compared with $5.282 billion recorded in the previous quarter. For the first half of 2025, inflows reached $8.05 billion, almost matching the $8.53 billion recorded for the entire year in 2024.
Drawing comparisons with economies such as Indonesia, Brazil and India, Popoola said countries that implemented structural reforms often experienced stronger domestic capital mobilisation and improved corporate balance sheets.
“Nigeria is currently experiencing a similar trend as local investors and corporates increasingly respond to policy reforms. The real test of reforms is what local capital does and how domestic corporates respond,” Popoola said.
He added that local capital is playing an increasingly important role in Nigeria’s financial markets.
“Markets were up more than 50% last year, issuers are raising new capital, retail investors are returning to the market, and corporate balance sheets and governance standards are improving,” he said.
Popoola also highlighted the longstanding capital market relationship between Nigeria and the United Kingdom, noting that collaboration between the Nigerian Exchange Group and the London Stock Exchange has helped facilitate cross-border capital raising for corporates in both jurisdictions.
Looking ahead, he said Nigeria’s capital market is positioning itself to support larger transactions and broaden wealth creation opportunities.
“We see a future where capital markets go beyond facilitating capital raising to supporting business expansion and wealth creation for Nigerians,” he said, adding that continued market modernisation and digital transformation are strengthening the country’s financial ecosystem.
Also speaking at the roundtable, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, outlined the Federal Government’s reform agenda aimed at restoring macroeconomic stability, strengthening fiscal sustainability and attracting long-term investment.
Meanwhile, Lagos State Governor Babajide Sanwo-Olu highlighted Lagos’ role as a leading economic hub in Africa and spoke about the state government’s collaboration with TheCityUK to further develop Lagos as a global financial and investment centre. He also invited participants to the upcoming Lagos Investment Forum scheduled to take place in June.
In her welcome remarks, the Chief Executive Officer of the Nigerian Investment Promotion Commission, Aisha Rimi, said the roundtable was designed to strengthen investment partnerships between Nigeria and the United Kingdom.
She was joined by Lord Marland of the Commonwealth Enterprise and Investment Council, who emphasised the importance of collaboration between governments, investors and private sector institutions in unlocking new investment opportunities across the Commonwealth.
The Nigeria–United Kingdom Investment Roundtable brought together policymakers, investors and business leaders to explore opportunities for deeper investment collaboration between both countries as Nigeria continues to implement wide-ranging economic reforms.
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