Business
NGX CEO Says Nigeria’s Capital Market Gains Global Investor Interest
NGX CEO Temi Popoola says Nigeria’s capital market is undergoing a re-rating, attracting global investors due to policy clarity, reforms, and strong returns
Temi Popoola, Group Managing Director and CEO of Nigerian Exchange Group, says Nigeria’s capital market is experiencing a re-rating as global investors reassess the country’s economic trajectory and investment potential.
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Speaking on BBC Newsday during President Bola Tinubu’s state visit to the United Kingdom, Popoola highlighted that recent market performance and greater policy clarity are reshaping international perceptions of Nigeria.
“What we are seeing is a gradual re-rating of Nigeria. Investors are beginning to look at the data more closely, the returns, the reforms, and the improving macroeconomic direction, and that is changing sentiment,” he said.
Popoola noted that Nigeria’s equity market has delivered strong returns, helping to recalibrate risk perceptions and attract renewed interest from international investors.
He added that improvements in domestic energy refining and ongoing sector reforms reduce exposure to external oil price shocks, boosting confidence.
“Global capital responds to clarity and consistency. As those elements become more evident, Nigeria naturally becomes more investable,” he said, stressing the importance of sustained engagement with global financial centres such as London.
He also underscored that ongoing reforms and a stronger market structure are positioning Nigeria as a viable destination for long-term investment.
Since May 2023, the Federal Government has implemented key ‘pain-for-gain’ reforms, including fuel subsidy removal and FX unification, that have caught global investors’ attention.
Also read: Bentley to Cut 275 Jobs Amid EV Transition and Market Challenges
Popoola concluded that Nigeria is increasingly being viewed through a balanced, data-driven lens, reflecting both resilience and long-term growth potential.
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Business
Kola Karim’s Shoreline Group Signs $300 million Deal With Accor to Develop Nigeria’s First National Hotel Platform
Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.
The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.
This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.
As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.
These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.
Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.
“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.
“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”
The Agbaoye of Ibadanland and Chairman of Shoreline Group, Karim, commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.
“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.
“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.
“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”
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