By Seun Ibiyemi
The Chairman of Nigerian Exchange Group (NGX), Dr Umaru Kwairanga, has called for deeper economic and commercial collaboration among West African nations to fully harness the region’s growth potential.
Speaking at the inaugural West Africa Economic Summit (WAES), Kwairanga underscored the need for unity and cooperation as essential tools for economic transformation. His remarks were shared in a statement issued by the Exchange on Sunday in Lagos.
“There is power in unity and strength in size,” Kwairanga stated. “Major economic powers of the 21st century, such as the United States and China, have partly thrived due to their vast populations and geographical scale. A united Africa, and particularly West Africa, can pursue similar influence through sustained integration.”
He pointed out that numerous opportunities remain untapped in the region, largely due to neglect and unnecessary restrictions. However, he said initiatives like the summit provide a valuable platform for addressing the limited use of intra-African trade and for accelerating regional economic development.
Kwairanga also outlined NGX’s contributions toward fostering regional integration, citing its involvement in the African Exchanges Linkage Project. The initiative seeks to interconnect 18 African stock exchanges, facilitating cross-border trading and real-time data sharing.
“Several companies listed on NGX, such as Dangote Cement, Zenith Bank, Access Bank, First Bank, and Ecobank, already maintain a presence in other West African markets,” he noted. “As an Exchange, we are committed to supporting more companies with ambitions to expand across the region.”
He expressed confidence that the summit would deliver tangible outcomes, including the removal of trade bottlenecks, enhanced ease of doing business across borders, and greater mobility for people within the sub-region, while safeguarding national security.
“If we can agree on practical mechanisms to increase trade and investment among our countries, we will not only boost our individual economies but also position West Africa as a more significant player in the global economic landscape,” Kwairanga said.