FirstCap Limited has called for stronger investment in Nigerian businesses and critical infrastructure, stressing the need for improved capital mobilisation, innovative financing mechanisms and investment-ready projects to drive economic growth.
The investment banking firm, a subsidiary of First HoldCo Plc, made the call at the 32nd Nigerian Economic Summit (NESG 32), held recently in Abuja, where policymakers, investors, development partners and private-sector leaders examined strategies for translating economic reforms into job creation, higher productivity and shared prosperity.
The summit, themed “Growth That Works: Delivering Jobs, Productivity and Shared Prosperity,” provided a platform for stakeholders to discuss ways of attracting long-term investments and strengthening the country's productive sectors.
Speaking during sessions on “Investing in Nigeria’s Productive Future” and “From Reform to Capital Mobilisation: Unlocking the Next Wave of Productive Investment in Nigeria,” FirstCap’s Managing Director and Chief Executive Officer, Ukandu E. Ukandu, highlighted the importance of developing businesses and infrastructure projects capable of attracting sustainable long-term financing.
Ukandu noted that access to funding alone was insufficient to attract investors, stressing that businesses must demonstrate sound corporate governance, financial transparency, credible reporting and effective risk-management structures to build confidence.
He also underscored the need for financing arrangements that take into account the different needs of businesses at various stages of development, noting that flexible and innovative funding solutions could help expand investment opportunities across the economy.
Discussions at the summit further drew attention to the substantial funding requirements of Nigeria’s critical infrastructure sectors, particularly power and industrial utilities, where sustained investment is considered essential to improving productivity and supporting industrial expansion.
Participants examined alternative financing options, including blended finance, credit enhancement, guaranteed bonds and professionally managed investment vehicles, as possible mechanisms for attracting institutional investors and unlocking long-term capital.
Another major issue highlighted was the gap between available investment funds and the supply of bankable projects capable of attracting such resources.
Nigeria has substantial domestic institutional funds, including pension assets and other long-term savings pools, which could be channelled into productive sectors of the economy. However, participants noted that mobilising these resources would require properly structured projects supported by clear commercial models, credible governance arrangements and appropriate risk-allocation mechanisms.
For FirstCap, bridging this gap remains central to creating a more sustainable investment environment in the country.
The firm maintained that effective capital mobilisation would depend on stronger collaboration among businesses, investors, policymakers and financial institutions to develop viable investment opportunities capable of delivering measurable economic and financial returns.
It also stressed that strengthening the connection between available capital and productive investment projects would be crucial to supporting businesses, expanding infrastructure and advancing Nigeria’s broader economic development objectives.