Nigeria's capital market segment focused on ethical finance products has grown beyond 1.6 trillion naira in value as regulatory changes encourage investment aligned with religious principles, according to the securities regulator.
Emomotimi Agama of the Securities and Exchange Commission said on Wednesday during the African International Conference on Islamic Finance held in Lagos that government bond sales conforming to Shariah law have generated more than 1.4 trillion naira since 2017. Federal authorities deployed proceeds from seven separate offerings to build or repair 124 highway projects spanning over 5,820 kilometers. Officials recently authorized a $500 million international bond issue following similar guidelines to fund additional construction and economic expansion.
Countries throughout the continent have strengthened legal structures to attract capital from investors seeking alternatives to conventional interest-bearing instruments. Agama noted Egypt, Kenya, Tanzania, Senegal and Ghana as examples of nations updating policies to accommodate such financing. Outcomes from the 2025 conference will inform planning for the next capital market blueprint covering 2026 through 2035. The commission chief urged continued focus on ethical investment frameworks to advance infrastructure renewal and broader participation in financial systems.
Emomotimi Agama of the Securities and Exchange Commission said on Wednesday during the African International Conference on Islamic Finance held in Lagos that government bond sales conforming to Shariah law have generated more than 1.4 trillion naira since 2017. Federal authorities deployed proceeds from seven separate offerings to build or repair 124 highway projects spanning over 5,820 kilometers. Officials recently authorized a $500 million international bond issue following similar guidelines to fund additional construction and economic expansion.
Countries throughout the continent have strengthened legal structures to attract capital from investors seeking alternatives to conventional interest-bearing instruments. Agama noted Egypt, Kenya, Tanzania, Senegal and Ghana as examples of nations updating policies to accommodate such financing. Outcomes from the 2025 conference will inform planning for the next capital market blueprint covering 2026 through 2035. The commission chief urged continued focus on ethical investment frameworks to advance infrastructure renewal and broader participation in financial systems.
