Nigeria’s Capital Market Needs $10bn Financing Yearly to Meet SDGs by 2030, UK Government Says

The UK government has committed to supporting Nigeria in developing its capital market, viewing the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme as a key collaborative effort with Nigeria’s financial sector. This support aims to help Nigeria achieve its economic goals, including transitioning to clean energy, requiring about $10 billion annually to meet the Sustainable Development Goals (SDGs) by 2030.

At MOBILIST events hosted by the Nigerian Exchange Limited (NGX) and the British Deputy High Commission (BDHC) in Lagos, UK officials emphasized their dedication to facilitating private capital mobilization in Nigeria. These events, which included representatives from the finance community and regulatory bodies, focused on addressing barriers to investment in the SDGs through public markets.

The MOBILIST programme offers both investment capital and technical assistance to overcome challenges and enable the listing of innovative products that can attract large-scale institutional capital for development and climate transition.

British Deputy High Commissioner Jonny Baxter highlighted the importance of a well-regulated capital market for economic growth, job creation, and development. NGX Chairman Ahonsi Unuigbe and MOBILIST Programme Lead Ross Ferguson discussed the need to address regulatory challenges and market obstacles to unlock the market’s full potential. Acting CEO of NGX, Jude Chiemeka, emphasized the partnership’s role in promoting sustainable capital flows and enhancing market performance.

Overall, the collaboration aims to drive sustainable development and economic growth in Nigeria by enhancing its capital market infrastructure.