The Securities and Exchange Commission (SEC) has announced that Nigeria’s non-interest capital market has grown to a valuation of over N1.6 trillion, reflecting rising investor confidence and deepening participation in alternative, value-driven financial products.
According to the SEC Director-General, Dr. Emomotimi Agama, the rapid growth of the non-interest market reflects a strong public appetite for ethical investing and a maturing regulatory environment.
He attributed part of this success to the newly enacted Investments and Securities Act (ISA) 2025, which provides a strengthened legal foundation for non-interest financial products and empowers the SEC to register a wider range of collective investment schemes.
The SEC DG disclosed that Sukuk, the Islamic equivalent of bonds, continues to dominate the segment, with the most recent issuance oversubscribed by more than 700%.
Nigeria’s sovereign Sukuk program has raised over N1.4 trillion through seven issuances since 2017, financing the construction and rehabilitation of 124 critical roads covering more than 5,820 kilometers across the country.
Dr. Agama emphasized that the growth of Islamic finance across the continent shows Africa’s readiness to adopt non-interest instruments as mainstream funding sources.
He commended Metropolitan Skills for its role in advancing Islamic finance and urged stakeholders to deepen the use of Islamic finance as a pathway to ethical investment, financial inclusion, and infrastructure renewal.
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