The Federal Government has raised sovereign sukuk bonds worth N1.1 trillion to finance 124 federal road projects spanning 5,820 kilometres across the country’s six geopolitical zones. It described the capital market as a Nigeria ticket to economic stability.
It also confirmed entering new agreements with the International Finance Corporation (IFC) to expand electricity access to 400,000 Nigerians in a bid to ensure economic opportunities are not hindered by infrastructural deficits.
The Vice President, Senator Kashim Shettima, confirmed the updates on government economic intervention yesterday in Keffi, Nasarawa State, on the occasion of the 50th inaugural lecture of Nigeria’s first Professor of Capital Market, Uche Uwaleke. The lecture held at the state’s university auditorium was titled:
“Unlocking Wealth and Leveraging Entrepreneurial Knowledge Ecosystem: Understanding Capital Harnessing Essentials.” The vice president was represented by Hajia Imaan Sulaiman-Ibrahim, the Minister of Women Affairs and Social Development for Nigeria.
“Nigeria’s capital market is our ticket to economic stability. Its performance, despite global and domestic uncertainties, speaks volumes. In January 2025 alone, the market capitalisation of the Nigerian Exchange Limited (NGX) appreciated by N1.95 trillion, reflecting growing confidence in our economic trajectory.
Compared to January 2024, we recorded an impressive N14.44 trillion increase. These figures are not just statistics; they are indicators of the steady hand guiding our economy under the leadership of President Bola Ahmed Tinubu.
“Our vision of a $1 trillion economy is not a distant dream; it is a deliberate destination. Through bold and strategic reforms, we have embarked on a journey to deepen our financial markets, strengthen investor confidence, and unlock opportunities for sustainable growth. The ongoing banking sector recapitalisation has already yielded results, with the NGX Banking Index increasing by 9.76 per cent Year-to-Date.
The stellar;performances of institutions such as Zenith Bank Plc (11.2%), GTCO (7.1%), and United Bank for Africa(10.88%) underscore the resilience of and confidence in Nigeria’s financial institutions. “Our pension fund assets have reached an unprecedented N20.5 trillion as of December 2024, reinforcing the importance of long-term savings and investments in securing financial stability.
Our revenue collection efforts have exceeded expectations, with 2024 revenue surpassing the projected N22 billion to reach N27 billion—120 per cent of the target and a 70 per cent increase from 2023. These figures demonstrate the effectiveness of President Tinubu’s pro-business policies and our commitment to fiscal discipline,” he said.
