NGX calls for more infrastructure funding to boost the economy

The Nigerian Exchange Group (NGX Group) has called for greater investment in Nigeria’s critical infrastructure to unlock economic growth and strengthen the country’s global competitiveness. A statement from NGX Group in Lagos said its Chairman, Dr Umaru Kwairanga, made the call on Thursday at the Nigeria Infrastructure Investment Forum in London.

Kwairanga, who spoke alongside the Minister of Industry, Trade and Investment, Jumoke Oduwole, said Nigeria remained an attractive destination for investors, citing its natural resources and growing workforce.

He noted that the country has significant agricultural potential, mineral resources and a large young population that could support long-term economic expansion.

The NGX group boss, however, identified infrastructure as a key barrier to growth.

“Nigeria must upgrade its roads, ports, electricity and rail systems to improve productivity and compete globally,” he said.

Kwairanga said the country was seeking strategic investments to support infrastructure development and stimulate economic expansion.

He added that the government’s policy reforms are addressing structural challenges and improving the investment climate.

According to him, the political direction is creating opportunities for investors to participate in the economic development of Nigeria.

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Kwairanga urged global investors to capitalize on these opportunities and support infrastructure financing.

He expressed optimism that improved infrastructure, combined with available resources and policy reforms, would strengthen Nigeria’s economic prospects.

(NAN)

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