Nigeria’s non-interest capital market has grown to a valuation of greater than N1.6 trillion, marking a significant milestone within the nation’s drive to deepen {financial} inclusion and mobilize moral financing for infrastructure growth.
The Director-Common of the Securities and Alternate Fee (SEC), Dr. Emomotimi Agama, revealed this on the seventh African Worldwide Convention on Islamic Finance (AICIF) 2025, held in Lagos, the place he described the expansion as “a testomony to investor confidence and sound regulatory reforms.”
Dr. Agama mentioned the enlargement of Nigeria’s non-interest capital market displays the success of the Fee’s initiatives beneath the brand new Investments and Securities Act (ISA) 2025, which launched stronger frameworks for moral and Shariah-compliant finance.
“The exceptional development of the non-interest section in Nigeria — a market now valued at over N1.6 trillion — is evident proof that when there’s an enabling regulatory setting, the market responds with vigour,” he said.
He famous that Nigeria’s sovereign Sukuk programme alone has raised over N1.4 trillion by way of seven issuances since 2017, serving to to finance 124 vital highway tasks protecting about 5,820 kilometres nationwide.
Agama additional disclosed that the federal authorities’s approval of a $500 million worldwide Sukuk issuance will herald the following part of Nigeria’s effort to draw overseas moral funding to fund infrastructure and stimulate {economic} development.
The SEC boss highlighted the speedy enlargement of Islamic finance throughout the continent as proof of Africa’s readiness to combine non-interest devices into mainstream {financial} techniques.
He pointed to nations reminiscent of Egypt, Kenya, Tanzania, Senegal, and Ghana, that are strengthening their regulatory and authorized frameworks to draw Shariah-compliant capital.
Agama counseled Metropolitan Abilities for organizing the AICIF and famous that outcomes from the convention would inform the Second Nigerian Capital Market Masterplan (2026–2035), as the primary 10-year plan concludes in 2025.
He urged stakeholders to leverage Islamic finance as a instrument for inclusive development, stating that “prosperity with out inclusion isn’t sustainable.”
In her remarks, the Convention Chair, Ms. Ummahani Ahmad Amin, mentioned whereas Islamic finance has made vital progress in Nigeria and throughout Africa, the continent has but to harness its full potential as a supply of catalytic capital to bridge its annual infrastructure financing hole, estimated between $130 billion and $170 billion.
She noticed that though international Islamic {financial} property grew by 14.9% year-on-year to $3.88 trillion in 2024, Africa’s contribution stays minimal because of low market depth, weak liquidity, and restricted investor consciousness.
“To allow Sukuk and different Islamic {financial} devices function efficient drivers of economic intermediation and macro-financial stability, we should first handle the boundaries that proceed to constrain their development,” she mentioned.
Amin additionally highlighted the transformative position of Synthetic Intelligence (AI) in increasing moral finance and automating compliance, whereas calling for sturdy moral guardrails to maintain public belief.
As a part of its youth empowerment agenda, the convention hosted a startup pitch competitors in collaboration with the SEC. ZannyTecture Recycling Firm Restricted gained within the Social Affect class, whereas BetaLife Well being clinched the Know-how prize for its AI-driven blood provide optimization platform.
Amin concluded by unveiling The Metropolitan Waqf, a brand new initiative to increase entry to training for marginalized communities in Nigeria, notably these in conflict-affected areas.
