Sen. Udoma Udo Udoma, Chairman of Seplat Energy Plc, has highlighted the vital role of a transparent, innovative, and investor-friendly capital market in accelerating Nigeria’s sustainable economic development.
Speaking at the 30th Anniversary Pearl Awards Night themed “Celebrating a Legacy of Corporate Excellence” in Lagos, Udoma noted that strong market governance boosts investor confidence, increases capital inflows, drives business expansion, and ultimately fosters economic and social progress.
He stressed that a vibrant capital market remains central to channeling investment into productive sectors across the country.
Udoma also reflected on the transformative evolution of Nigeria’s capital market over the last 30 years from manual trading floors to fully digital platforms, and from a narrow set of listed firms to a modern, diversified market with growing participation in technology, fintech, 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.
He praised the founders of the Pearl Awards for their vision, noting that by recognising companies through measurable and verifiable metrics, the awards have helped strengthen transparency and discipline within the market. Udoma also applauded the companies that secured top positions in various categories, calling their achievements “commendable” and reflective of the standards the market aims to maintain.
Enugu State Governor Dr. Peter Mbah, represented by Deputy Governor Barr. Ifeanyi Ossai, also emphasised that corporate success depends on strong governance systems. He pointed out that sub-national governments face challenges in accessing development finance, stressing the need to differentiate between commercial investment finance and development finance.
“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,” he said.
He noted that without robust infrastructure, the private sector cannot reach its full potential.
Jude Chiemeka, CEO of the Nigerian Exchange Ltd. (NGX), remarked that the exchange has grown into a multi-asset marketplace, currently trading 147 listed companies, 102 FGN bonds, and more. He encouraged government action that would motivate more corporates to list, noting that listed companies typically show stronger tax compliance.
Pearl Awards President Mr. Tayo Orekoya said that for three decades, the awards have promoted values such as vision, integrity, impact, and resilience principles that have shaped the Nigerian capital market. The awards, he emphasised, are rooted in transparency and merit, with winners chosen strictly through data analysis rather than popularity.
This year’s event also included the unveiling of the 2026 Stock Market Annals, detailing the metrics, data, and market trends used for evaluation. Orekoya further announced a new category, the Pearl Excellence in Public Governance Award, recognising outstanding contributions to public service.
“Excellence is not limited to the private sector; it also thrives in the public service, where vision and integrity can transform lives,” he said.
He added that the Pearl Awards’ next phase will involve deeper market insights and expanded support for MSMEs through more data-driven reviews.
The News Agency of Nigeria (NAN) reports that companies such as Presco Plc, BUA Foods Plc, Transnational Corporation Plc, and Unilever Nigeria Plc were among the winners in various categories.
Governors Peter Mbah of Enugu State and Babajide Sanwo-Olu of Lagos State also received public governance awards.
Dr. Owen Omogaifo, Group CEO of Transnational Corporation Plc, won the Pearl CEO of the Year Award, while BUA Foods Plc clinched the 2025 Pearl of the Capital Market Award.
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