Vice President of Nigeria, Senator Kashim Shettima, has emphasized the crucial role of the country’s capital market in driving economic stability and national development. Speaking at the 50th inaugural lecture of Nasarawa State University, Keffi, on Wednesday, 26th February, where he was represented by the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim—Shettima highlighted ongoing reforms and key financial indicators reflecting investor confidence.
According to him, the implementation of the revised Capital Market Master Plan has attracted major listings, including the NNPC, Dangote Refinery, and LNG. He noted that despite global and domestic economic uncertainties, the stock market surged by 37% in 2023 and 1.5% in early 2024, demonstrating resilience.
Referencing January 2025, Shettima revealed that the Nigerian Exchange Limited (NGX) saw a N1.95 trillion increase in market capitalization, reflecting faith in President Bola Ahmed Tinubu’s leadership. He added that January 2024 recorded a remarkable N14.44 trillion rise, underscoring steady economic progress.
“Our vision of a $1 trillion economy is not a distant dream; it is a deliberate destination,” he said, pointing to ongoing banking sector recapitalization efforts, which have strengthened financial institutions like Zenith Bank, GTCO, and UBA. He also highlighted Nigeria’s pension fund assets reaching N20.5 trillion as of December 2024.
Additionally, Shettima commended President Tinubu’s revenue collection strategies, revealing that 2024 revenue exceeded projections, hitting N27 billion—120% of the target and a 70% increase from 2023. He noted that the Securities and Exchange Commission (SEC) has outlined strategic plans in its N51.49 billion 2025 budget to enhance market activities and investor confidence.
The Vice President also emphasized the importance of infrastructure investments, revealing that the government has issued six Sovereign Sukuk bonds worth N1.1 trillion to finance 124 federal road projects. He further noted that new agreements with the International Finance Corporation (IFC) would expand electricity access to 400,000 Nigerians.
Shettima concluded by praising Professor Uche Joe Uwaleke for his contributions to capital market research, urging continued collaboration between the government, private sector, and academia to deepen market growth.
