Agama cites strong investor confidence as debt market records major climate and infrastructure deals
Nigeria’s capital market raised more than ₦753 billion between April and October 2025 through commercial paper issuances, reflecting sustained investor confidence and growing demand for short-term financing instruments, according to the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama.
Speaking during an interview on Sunday, Agama said the funds raised through commercial papers were channelled into critical sectors including manufacturing, energy and agriculture, helping companies meet short-term funding needs and maintain operational stability.
He noted that the period also witnessed major milestones in the debt capital market, highlighting the launch of a ₦500 billion climate finance vehicle and a ₦200 billion bond issuance by Elektron Finance, developments that point to increasing investor appetite for infrastructure and sustainable finance.
“These figures go beyond the numbers,” Agama said. “They reflect confidence in our regulatory environment and the strength of Nigeria’s capital market structure.”
According to the SEC DG, the strong showing in commercial papers formed part of a wider range of capital-raising activities approved by the commission across debt, equity and short-term instruments during the review period.
“Between April and October 2025, the Nigerian capital market demonstrated remarkable depth and adaptability,” he said. “The volume of transactions approved during this period underscores the market’s capacity to mobilise capital in support of economic growth.”
Agama added that recent credit rating upgrades for Nigeria, as well as the country’s removal from the Financial Action Task Force (FATF) grey list, have further strengthened investor sentiment and reinforced confidence in the broader economy.
He urged market operators to take advantage of easing inflationary pressures by developing innovative financial products, stressing that innovation must translate into real market offerings.
“The time for passive observation is over,” he said. “We must activate these opportunities and position the capital market as a genuine driver of inclusive and sustainable growth.”
Agama also addressed the ₦6.54 trillion market decline recorded in November, attributing it largely to profit-taking ahead of discussions around a proposed 30 per cent capital gains tax. He noted, however, that the market rebounded following policy clarifications and remains positive on a year-to-date basis.
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