Nigeria’s capital market raises ₦753bn via commercial papers in Seven Months – SEC DG

The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has disclosed that Nigeria’s capital market raised over ₦753 billion between April and October 2025 through commercial paper issuances, a development he said reflects growing investor confidence in the country’s financial system.

Agama made the disclosure in an interview on Sunday, noting that the funds raised through commercial papers provided short-term financing support to key sectors of the economy, including manufacturing, energy and agriculture.

According to him, the strong performance of the commercial paper segment highlights the resilience and depth of Nigeria’s capital market, particularly at a time when businesses are seeking alternative funding sources.

“The ₦753 billion raised through commercial papers supported short-term financing needs across critical sectors,” Agama said, adding that the figures underscore investors’ confidence in the regulatory environment.

Beyond commercial papers, the SEC DG revealed that the debt market recorded landmark transactions, including a ₦500 billion climate funding vehicle and a ₦200 billion Elektron Finance bond issuance, signalling increased appetite for infrastructure and sustainable finance investments.

“These figures are not just numbers; they represent confidence in our regulatory framework and the resilience of our market architecture,” he said.

Agama explained that the transactions formed part of broader capital-raising activities approved by the commission across debt, equity and short-term instruments within the review period.

“Since our last meeting, the Nigerian capital market has demonstrated remarkable depth and adaptability,” he stated.

“Between April and October 2025, the commission approved significant transactions across debt, equity and commercial paper segments, underscoring the market’s capacity to mobilise capital for growth.”

He stressed that such achievements are crucial to positioning the Nigerian capital market as a driver of sustainable economic growth.

The SEC boss also attributed rising investor confidence to Nigeria’s credit rating upgrade and the country’s removal from the Financial Action Task Force (FATF) grey list, describing both developments as strong signals of renewed confidence in the economy.

Calling on market operators to be proactive, Agama urged them to convert opportunities created by easing inflation into innovative financial products.

“Innovation can’t remain on paper,” he said.
“The time for passive observation is over. Our collective responsibility is to activate these opportunities and position the Nigerian capital market as a true engine of inclusive growth.”

He also addressed the ₦6.54 trillion market downturn recorded in November, attributing it to profit-taking ahead of the proposed 30 per cent capital gains tax.

However, Agama noted that the market rebounded following policy reassurances and remains positive on a year-to-date basis.