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NGX Group Chairman Seeks Regional Collaboration to Unlock West Africa’s Trade, Investment Potential

Umaru Kwairanga, chairman, Nigerian Exchange Group (NGX Group), has called for stronger regional cooperation to harness the untapped potential of West Africa’s trade and commodity markets.

Speaking at the inaugural West Africa Economic Summit (WAES) 2025 held under the theme “Unlocking Trade and Investment Opportunities in the Region”, Kwairanga highlighted the critical role of capital markets and commodity exchanges in transforming the region’s abundant natural resources into organised, transparent capital that fuels industrialisation and inclusive economic growth.
The summit brought together key stakeholders from across West Africa to deliberate on strategies for accelerating regional integration, strengthening capital markets, and unlocking the full potential of intra-African trade.
In his remarks during a high-level panel on “Commodities as Capital: Regional Commodities Exchange & Reserves”, Kwairanga noted that despite West Africa’s wealth of raw materials, the region continues to face a paradox of resource abundance coexisting with capital scarcity.
“As a nation and region, we are abundantly rich in raw materials, but often poor in capital outcomes. This paradox is not due to a lack of resources, but due to the way these resources have historically been excluded from structured financial ecosystems.
Commodities, whether agricultural, mineral, or energy, must be seen not just as tradeable goods, but as investable assets capable of powering industrialisation, job creation, and macroeconomic stability,” he said.
Kwairanga emphasised NGX Group’s commitment to building resilient market infrastructure that supports price discovery, clearing, settlement, and investor protection, systems that can underpin thriving regional commodity markets.
He highlighted NGX Group’s role in mobilising capital for commodity value chains through IPOs, bonds, and structured funds, citing the success of NGX-listed companies like Presco and Okomu Oil as models for attracting long-term investment.
On the question of regional versus national commodity exchanges, Dr. Kwairanga advocated for a dual approach that combines the strengths of national platforms with the scale and integration benefits of regional frameworks.
“National exchanges address local needs and build depth, but for West Africa to unlock the full potential of commodity trade, we must connect these markets under a regional structure.
“Regulatory harmonisation will be key, and this is where NGX Group’s experience in governance, coupled with platforms like the African Exchanges Linkage Project and the Pan-African Payment and Settlement System, can help align standards and enable seamless cross-border transactions,” he stated.
Addressing liquidity challenges, Kwairanga outlined the need for harmonised rules, trustworthy infrastructure, product innovation, and incentives to drive participation. He called for public-private partnerships and regional integration to deepen market liquidity and ensure efficient price discovery.
Beyond the panel discussions, Kwairanga commended the vision of President Bola Tinubu and the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, for spearheading the summit. “There is power in unity and prestige in size. The great economic powerhouses of the 21st century, such as the United States and China, have risen to prominence partly because of the scale of their markets.
A united West Africa can achieve the same if we work together on initiatives like this,” he said, expressing optimism that the summit would produce actionable frameworks to reduce trade barriers, encourage regional investment, and fast-track economic growth across ECOWAS.
NGX Group, he added, remains committed to supporting cross-border investments, citing its participation in the African Exchanges Linkage Project and the increasing regional footprint of NGX-listed companies such as Dangote Cement, First Bank, Zenith Bank, Access Bank, and Ecobank.
News
UK Appoints Peter Vowles as British High Commissioner to Nigeria

The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.
Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.
He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.
Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.
Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”
News
Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.
The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.
According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.
The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.
He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.
“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.
The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.
It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.
The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.
Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.
It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.
The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.
News
PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.
These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”
PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.
Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.
“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”
The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.
For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.
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