Vice President Kashim Shettima has highlighted the crucial role of Nigeria’s capital market in ensuring economic stability, emphasizing its strong performance amid global and local economic challenges. Shettima, represented by Minister of Women Affairs Hajia Imaan Sulaiman Ibrahim, made the statement during the 50th Inaugural Lecture at Nasarawa State University. He credited the Nigerian Exchange Limited (NGX) for boosting investor confidence, citing the impressive N1.95 trillion market capitalization growth in January 2025 alone.
Shettima further elaborated on Nigeria’s ambitious economic goals, noting that the country aims for a $1 trillion economy. He stressed that the vision is supported by strategic reforms to deepen the financial markets and enhance investor confidence. The Securities and Exchange Commission (SEC) has been pivotal in these efforts, with a budget allocation of N51.49 billion for 2025 aimed at expanding market activities, introducing new financial products, and strengthening regulatory frameworks.
In addition to market reforms, Shettima assured that the government is committed to infrastructure development, including the issuance of Sovereign Sukuk bonds to fund major road projects. He also highlighted partnerships with the International Finance Corporation (IFC) to increase electricity access for Nigerians, ensuring that infrastructure limitations do not impede economic growth.
The lecture by Professor Uche Uwaleke emphasized the need for strategic investment in education to drive industrial and economic growth. Uwaleke recommended prioritizing funding for disciplines such as Agriculture, Medical Sciences, ICT, and Engineering to bridge the skills gap. His suggestions also included restructuring development finance institutions like the Bank of Agriculture to better support entrepreneurship, aligning public university funding with national development plans to optimize resources.
SOURCE: THE NATION