By Taiye Olayemi

Alhaji Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX Group), has received an award of excellence from the Institute of Professional Industrialists and Management Development (IPIMD).

Kwairanga received the award at the National Industrial and Entrepreneurship Policy Summit held on Thursday at Merit House Auditorium, Abuja, on Thursday.

Kwairanga, in a statement, described the recognition as an acknowledgement of the progress recorded by his team at the NGX in the past decade and an encouragement to do more.

In his goodwill message at the summit, Kwairanga called for increased support for Small and Medium Enterprises (SMEs) to tackle unemployment and accelerate Nigeria’s industrial development.

He said encouraging entrepreneurs to establish and expand businesses would create jobs, boost local production and provide essential goods and services.

According to him, tackling unemployment, particularly among the growing youth population, requires collective efforts beyond government interventions.

“I wish to thank the Institute of Professional Industrialists and Management Development for recognising the work of my team and I at the Nigerian Exchange through the award of excellence.

“This is an acknowledgement of the progress that we have made in the last decade and an encouragement to do even more going forward, Insha Allah.

“The easiest way to reduce the unemployment rate is to encourage entrepreneurs to set up small and medium-scale businesses that will generate employment while producing much-needed goods and services,” he said.

Kwairanga said industrialisation and entrepreneurship remained critical to economic transformation through job creation, innovation and improved competitiveness.

He said access to patient, long-term capital were key requirement for industrial growth.

He explained that the capital market connected businesses with funds needed for expansion and investment.

He said the capital market also promoted transparency, strengthened corporate governance and supported the development of resilient businesses.

Kwairanga emhasised the need for policy consistency, infrastructure investment, innovation and institutional collaboration to achieve sustainable industrial development.

He also urged Nigerian businesses to leverage opportunities offered by the African Continental Free Trade Area (AfCFTA) through stronger industries and competitive enterprises.

He called on government, financial institutions, industry leaders, entrepreneurs and policymakers to work together to translate the country’s economic potential into measurable progress. (NAN)

Edited by Folasade Adeniran