The Federal Government has described Nigeria’s capital market as the country’s ticket to economic stability.
Vice President Kashim Shettima made this declaration at the 50th Inaugural Lecture of Nasarawa State University, delivered by Professor Uche Uwaleke on Wednesday.
Shettima, who was represented by the Minister of Women Affairs, Hajia Imaan Sulaiman Ibrahim, noted the remarkable performance of the Nigerian capital market despite global and domestic economic challenges.
He pointed to the strong performance of the Nigerian Exchange Limited (NGX) as proof of investor confidence in Nigeria’s economic policies.
“In January 2025 alone, the market capitalization of the NGX grew by N1.95 trillion, showing increased trust in our economic direction,” Shettima stated. “When compared to January 2024, we have recorded an impressive N14.44 trillion increase. These are not just numbers; they reflect the steady leadership guiding our economy under President Bola Ahmed Tinubu.”
“Nigeria’s vision of a $1 trillion economy is not just a dream but a deliberate goal, driven by bold reforms aimed at deepening financial markets and strengthening investor confidence.”
Shettima explained that the Securities and Exchange Commission (SEC) is taking active steps to enhance the Nigerian capital market.
“With a 2025 budget of N51.49 billion, the SEC has set out strategic plans to boost investor confidence, expand market activities, and introduce innovative financial products,” he noted. The Commission’s focus includes strengthening regulatory oversight, adopting technology, and broadening market participation.
He also identified a key milestone—the successful completion of a Eurobond transaction without a roadshow as a strong signal of global confidence in Nigeria’s economic policies.
The Vice President equally gave assurance of the government’s commitment to infrastructure development, which he described as essential for economic expansion.
“The federal government has issued six Sovereign Sukuk bonds worth N1.1 trillion, funding 124 federal road projects covering 5,820 kilometres across the country,” he stated.
“Additionally, through new partnerships with the International Finance Corporation (IFC), electricity access will be expanded to 400,000 Nigerians, ensuring that infrastructural limitations do not hinder economic growth.”
Shettima said that Nigeria’s capital market is more than just a trading platform—it is a driver of national development.
“The implementation of the revised Capital Market Master Plan is restoring investor confidence and attracting new listings,” he said, pointing to the entry of major companies like NNPC, Dangote Refinery, and LNG into the market.
He also noted that the Nigerian stock market surged by 37 percent in 2023 and recorded a 1.5 percent increase in early 2024, reinforcing its role as a pillar of economic resilience.
Delivering his lecture titled: “Unlocking Wealth and Leveraging Entrepreneurial Knowledge Ecosystem: Understanding Capital Harnessing Essentials,” Professor Uche Uwaleke stressed the need for the government to invest strategically in education to support industrial and economic growth.
He recommended prioritising funding for key academic disciplines—Agriculture, Medical Sciences, ICT, and Engineering (AMIE)—to bridge the skills gap and enhance national productivity.
“Years of underinvestment in these fields have led to low student enrolment and reduced economic output,” Uwaleke noted.
To raise long-term funds for entrepreneurial education, he urged the Central Bank of Nigeria (CBN) to restructure and recapitalize development finance institutions such as the Bank of Agriculture (BOA) and the Nigeria Export-Import Bank (NEXIM).
He suggested that graduates of AMIE programmes should be supported in registering companies and accessing concessional loans to foster entrepreneurship.
Uwaleke also called for a more effective and results-oriented approach to public university funding, aligning it with Nigeria’s development plans to optimize scarce resources.
Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, praised Professor Uwaleke for his contributions to the sector.
“The Senate Committee is proud of Prof. Uwaleke and is committed to working with Nasarawa State University because of him,” Izunaso said. “We are aligning the capital market with Nigeria’s $1 trillion economy goal, and I commend the professor for his insights.”
Similarly, SEC Director General, Dr. Emomotimi Agama, acknowledged Uwaleke’s role in strengthening Nigeria’s capital market.
“Prof. Uwaleke has supported the capital market with his vast knowledge and has provided solutions that have contributed to its growth,” Agama said.
