FG Urged to List NNPC, NLNG for Capital Market Growth

Taiwo Oyedele, the minister of finance and coordinating minister of the economy, has called on the federal government to speed up plans to list selected state-owned enterprises. This move is intended to help grow Nigeria’s capital market to $1 trillion within the next decade.

Oyedele emphasized that Nigeria should aim for a larger target than the Securities and Exchange Commission’s (SEC) goal of expanding the market from about N250 trillion to N750 trillion by 2036. He stated that a $1 trillion capital market would support the country’s ambition of building a $1 trillion economy by 2030.

The minister highlighted the need for Nigeria to mobilize domestic savings, attract foreign investment, and create more opportunities for businesses to raise long-term capital locally.