By Rukayat Moisemhe
Sen. Udoma Udo Udoma, Chairman, Seplat Energy Plc, has underscored the importance of a transparent, innovative and investor-friendly capital market to drive sustainable economic development.
Udoma gave the advice at the 30th Anniversary Pearl Awards Night with theme: ” Celebrating a Legacy of Corporate Excellence”, on Sunday night in Lagos.
Udoma said when market governance is strong, investors become confident, capital flows improve, companies can scale, jobs are created and economic and social development improves.
He added that a vibrant capital market remained critical to channeling funds into productive enterprises across Nigeria.
He noted that the Nigerian capital market had visibly matured, generating wider opportunities for businesses and contributing meaningfully to national development.
Udoma highlighted the remarkable evolution of the market over the last three decades.
He noted that the Nigerian capital market had moved from manual trading floors to digital platforms, and from a narrow list of trading companies to a diversified marketplace embracing technology, financial technology and the energy transition.
“I am very impressed by the scale of transformation we have witnessed.
“We have seen an expansion of market products and instruments, and the creation of a fully digitalised trading and settlement environment.
“The evolution of our capital market is truly one of Nigeria’s success stories,” he said.
Udoma commended the foresight of the founders of the Pearl Awards, acknowledging their role in motivating performance excellence over time.
He said by recognising companies via quantifiable and verifiable metrics, the awards have strengthened discipline and transparency across the market.
He also lauded the companies that made the top three positions in the various award categories, describing their performance as commendable and reflective of the high standards the market aspires to uphold.
The Governor of Enugu State, Dr Peter Mbah, while celebrating performance, excellence and achievement, said the country must also expand the possibilities for greater success.
Mbah represented by the Deputy Governor of Enugu State, Barr. Ifeanyi Ossai, stressed that corporate accomplishments rested on the foundation of a governance system that worked.
He noted the struggle by sub-national governments to revamp and expand critical infrastructure, saying without robust infrastructure, the private sector cannot fully thrive.
He said one of the major constraints facing sub- national governments was access to development finance.
He noted the inability to distinguish between the pursuit of development finance and the pursuit of commercial or investment finance.
He said while investment finance could yield returns on investment, development finance was not designed to generate the same level of returns.
“In the light of the current economic realities, I appeal to the capital market, corporate Lagos and corporate Nigeria to collaborate in creating a separate portfolio specifically for development finance.
“Such a window should attract lower and more flexible interest rates to enable sub-national governments to invest in the infrastructure urgently needed for businesses to flourish,” he said.
The Chief Executive Officer, Nigerian Exchange Ltd.,(NGX), Mr Jude Chiemeka, noted that the exchange had metamorphosed into a multi-asset exchange, with trade by 147 listed companies and 102 FGN bonds among others.
Chiemeka said the exchange was delighted for pearl awards as it recognised corporates operating within the Nigeria economy.
He noted that listed companies were more tax compliant and that the NGX was tied to supporting the government’s one trillion dollar economy.
He urged the government to continue to come up with policies that would compel more corporates to list on the stock exchange.
The President, Pearl Awards, Mr Tayo Orekoya, said over the past three decades, the awards had championed vision, integrity, impact and resilience, values that have helped shape the nation’s capital market.
Orekoya noted that the awards were instituted to honour publicly quoted companies in the Nigerian capital market, with a strong emphasis on performance, earnings and returns.
He said beyond recognition, the awards had become a symbol of transparency, credibility and merit, as winners were selected strictly on data, not popularity or influence.
He added that this year’s celebration was particularly special with the formal presentation of the 2026 Stock Market Annals, a publication detailing the criteria, facts and figures behind the nation’s capital market.
He also announced the introduction of a new category — the Pearl Excellence in Public Governance Award — to reflect the growing importance of governance and public service in national development.
“Excellence is not limited to the private sector; it also thrives in the public service, where vision and integrity can transform lives,” he said.
Orekoya said the next chapter of Pearl Awards would focus on deepening its impact by strengthening capacity to provide more data-driven insights, including a deeper review of Micro, Small and Medium Enterprises to support their growth.
The News Agency of Nigeria (NAN) reports that organisations such as Presco Plc, BUA Foods Plc, Transnational Corporation Plc and Unilever Nigeria Plc, among others emerged winners under various categories.
Also, awards in public governance were presented to Governor of Enugu State, Dr Peter Mbah and Governor of Lagos, Mr Babajide Sanwo-Olu.
The Pearl CEO of the year award was also presented to Dr Owen Omogaifo, the Group Chief Executive Ofiicer, Transnational Corporation Plc.
NAN also reports that Bua Foods Plc clinched the 2025 Pearl of Capital market award. (NAN)(www.nannews.ng)
Edited by Chinyere Joel-Nwokeoma
