UNIZIK to drive SMEs growth in Southeast, as centre concludes programme on Capital Market

 

By Okechukwu Onuegbu 

The Director, Nnamdi Azikiwe University (UNIZIK) Centre for Capital Market Studies (UCCMS), Prof. Chinedu Onyeizugbe, has stressed the commitment of the agency to continue leading the drive for growth of business and entrepreneurs, including the small, medium enterprises (SMEs).

Onyeizugbe disclosed this at end of a two-day conference organized by the UCCMS in collaboration with the Securities and Exchange Commission (SEC), themed harnessing capital market opportunities for SME growth and investment sustainability, which attracted policymakers, academics, regulators, investors and entrepreneurs from all over the country .

According to him, the knowledge-sharing programme has further inspired them to take a lead in research and innovation, policy direction and market-focused learning for better engagement with stakeholders and mentoring.

Some of the experts who spoke at the programme urged SMEs to leverage opportunities in the capital market for business expansion and impacts, a venture they said would connect them to investors for long-term funding opportunities, financial discipline, accountability and record keeping.

Speaking at the occasion, Mr. Oluwadare Adejumo and Mr. Chidiebere Eziaghala urged entrepreneurs not to be afraid of registration and listing requirements, adding that the SEC exists to support them to thrive not to control or intimidate them. 

Speaking on the theme: " The implications of the ISA 2025 for SME's and capital market operators" Mrs. Hafsat Rufai, Mr. Onyedikachi Edeh, Mr. Daniel Bell-gam, Mr. Daniel Okonji and Mr. David Fajuyitan, argued that exploring capital market would enable the Micro, Small, and Medium Enterprises (MSMEs) to enjoy financial freedom as well as survive the owners.

“SMEs are the backbone of the economy, driving job creation, innovation, and productivity. Yet, inadequate funding continues to limit their full contribution to national development," Edeh stated.

Similarly, the President of SIBAN, Obinna Iwuno, represented by the Vice, Mr. Chukwuemeka Ezike, harped on the need for SMEs to restructure their internal systems, improve on their education and embrace the capital market because it would offer them avenues for long-term growth capital, improved governance, better valuation and stronger business ecosystems. 

Contributing, Mr. Daniel Bell-gam explained that SEC often enhances investor confidence, while the Vice President of FSL, Mr. David Fayuyitan, noted that external investors only commit funds to companies that maintain proper records and demonstrate longevity through sound governance systems.

On his part, Mr. Stanley Aniagbaso, who spoke on "The SME's bridge to the capital market: embedding coperate governance in business continuity strategy for resilience", described SMEs as the lifeblood and silent drivers of Nigeria’s economy.

In their separate contributions, Dr. Valentine Ekechukwu, Mrs. Simnom Garba and Dr. Graham Omenka, explained that intergrity was a major tool for businesses to thrive, and enjoyed SMEs to imbibe business attitude, confidence and trust so as to strengthening the growth of their enterprise.

Discussing "Financing SME Growth: unlocking opportunities through capital market instrument," the CEO, Dantown Technologies, Mr. Chimene Chinah, and Mr. Chukwuemeka Ezike of Rootrab expressed concern that many SMEs were unaware of the capital market’s potential as a funding source, urging them to explore the opportunities, listen to policy makers and collaborate effectively.

Also speaking, Prof. Chris Kalu, Prof. Charles Onugu, Prof. Collins Nwogwugwu and Prof. Promise Chika Oparah while speaking on "Understanding the business environment", lamented that despite employing over 80 percent of the workforce and contributing nearly half of Nigeria’s GDP, SMEs still suffer a severe financing gaps due to inconsistency in policy and persistent security challenges.

According to them, some of these were caused by high interest rates, stringent collateral requirements, and short repayment tenors, which force many entrepreneurs to rely on personal savings and informal loans, keeping them at a subsistence level.