Umaru Kwairanga, group Chairman of Nigerian Alternate Group (NGX Group), has known as for stronger regional cooperation to harness the untapped potential of West Africa’s commerce and commodity markets.
Talking on the inaugural West Africa Financial Summit (WAES) 2025 held below the theme “Unlocking Commerce and Funding Alternatives within the Area”, Kwairanga highlighted the vital function of capital markets and commodity exchanges in remodeling the area’s plentiful pure assets into organised, clear capital that fuels industrialisation and inclusive financial development.
The summit introduced collectively key stakeholders from throughout West Africa to deliberate on methods for accelerating regional integration, strengthening capital markets, and unlocking the complete potential of intra-African commerce.
In his remarks throughout a high-level panel on “Commodities as Capital: Regional Commodities Alternate & Reserves”, Kwairanga famous that regardless of West Africa’s wealth of uncooked supplies, the area continues to face a paradox of useful resource abundance coexisting with capital shortage.
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“As a nation and area, we’re abundantly wealthy in uncooked supplies, however usually poor in capital outcomes. This paradox isn’t because of an absence of assets, however because of the manner these assets have traditionally been excluded from structured monetary ecosystems. Commodities, whether or not agricultural, mineral, or vitality, have to be seen not simply as tradeable items, however as investable belongings able to powering industrialisation, job creation, and macroeconomic stability,” he stated.
Kwairanga emphasised NGX Group’s dedication to constructing resilient market infrastructure that helps value discovery, clearing, settlement, and investor safety, programs that may underpin thriving regional commodity markets. He highlighted NGX Group’s function in mobilising capital for commodity worth chains by means of IPOs, bonds, and structured funds, citing the success of NGX-listed firms like Presco and Okomu Oil as fashions for attracting long-term funding.
On the query of regional versus nationwide commodity exchanges, Dr. Kwairanga advocated for a twin strategy that mixes the strengths of nationwide platforms with the dimensions and integration advantages of regional frameworks.
“Nationwide exchanges tackle native wants and construct depth, however for West Africa to unlock the complete potential of commodity commerce, we should join these markets below a regional construction. Regulatory harmonisation can be key, and that is the place NGX Group’s expertise in governance, coupled with platforms just like the African Exchanges Linkage Venture and the Pan-African Cost and Settlement System, will help align requirements and allow seamless cross-border transactions,” he acknowledged.
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Addressing liquidity challenges, Kwairanga outlined the necessity for harmonised guidelines, reliable infrastructure, product innovation, and incentives to drive participation. He known as for public-private partnerships and regional integration to deepen market liquidity and guarantee environment friendly value discovery.
Past the panel discussions, Kwairanga recommended the imaginative and prescient of President Bola Tinubu and the Minister of International Affairs, Ambassador Yusuf Maitama Tuggar, for spearheading the summit. “There may be energy in unity and status in dimension. The nice financial powerhouses of the twenty first century, similar to the US and China, have risen to prominence partly due to the dimensions of their markets. A united West Africa can obtain the identical if we work collectively on initiatives like this,” he stated, expressing optimism that the summit would produce actionable frameworks to cut back commerce boundaries, encourage regional funding, and fast-track financial development throughout ECOWAS.
NGX Group, he added, stays dedicated to supporting cross-border investments, citing its participation within the African Exchanges Linkage Venture and the rising regional footprint of NGX-listed firms similar to Dangote Cement, First Financial institution, Zenith Financial institution, Entry Financial institution, and Ecobank.
