Economy
FG to Accelerate Nigeria’s Emergence as Top 20 Global Economy by 2025
By Aduragbemi Omiyale
The federal government has promised to continue to support and implement policies aimed at accelerating the emergence of Nigeria as a top 20 global economy by 2025.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this known in Abuja on Monday when she received the Revised Nigerian Capital Market Master Plan (2021-2025) from the Securities and Exchange Commission (SEC).
She explained that the review of the plan underscores the fact that capital market growth resonates with the current administration’s unwavering commitment to deepening and re-positioning the country’s financial markets as a key anchor to achieving a private sector-led development of the economy as encapsulated in the National Development Plan objectives.
According to her, under her watch, the Ministry has supported the Capital Market Master Plan implementation efforts since inception, adding that the scheme represents the collective aspirations of the capital market community which is focused on driving initiatives geared towards growing and deepening the market, noting that that the initiatives are being implemented with the ultimate goal of accelerating the emergence of Nigeria as a top 20 global economy by the year 2025.
Mrs Ahmed commended the agency and other stakeholders for the laudable accomplishments so far recorded in the implementation journey, especially in the areas of dematerialization of share certificates, e- dividend mandate, facilitation of access to alternative investments like Sukuk and specialized funds, review of CAMA and ongoing review of the ISA, demutualization of the Nigerian Stock Exchange, enhancing the commodities eco-system, design of a National Savings Strategy among others.
“Our capital market is growing and evolving. To sustain this growth and eventually transform it into a world-class capital market, transparency and investor confidence are key.
“Investor confidence will accelerate the growth of our market and increase both domestic and foreign investor participation. To this end, we will continue to support and strengthen the regulator to effectively do its job of regulating and developing the capital market.
“I see the capital market as an important driver of our economic growth objectives and we will continue to support efforts to position our market where it deserves to be – a capital market that will broaden access to economic prosperity by enabling the emergence of financially responsible citizens, accelerate wealth creation and wealth distribution, provide capital to small and medium scale enterprises, and catalyse housing finance.
“As you chart the course for the next phase of the Capital Market Master Plan’s implementation, I assure you of this Administration’s support and look forward to working with you and other stakeholders in the financial market to realize the plan’s outcomes,” she said.
The Director-General of SEC, Mr Lamido Yuguda, said through the implementation of the 10-year Nigeria Capital Market Master Plan (2015 – 2025), the commission and other stakeholders have recorded significant milestones over the years.
He listed some of them to include full dematerialization of certificates, direct cash settlement, recapitalization of CMOs, E-Dividend Mandate Management System, National Savings Strategy to grow domestic risk capital formation, the Roadmap on Enhancing Commodities Trading Ecosystem, Establishment of the West African Securities Regulators Association (WASRA) to encourage the integration of capital markets in West Africa, among others.
The DG stated that the Master Plan document recommends a periodic review of the assumptions, goals and objectives of the Plan to better align it with current realities and innovations in the global financial system.
As part of the review, he said the agency embarked on a comprehensive review of the Plan, driven by PriceWaterHouseCoopers with funding support from Financial Sector Deepening Africa (FSDA).
The main objective of reviewing the Master Plan, he noted, is to produce an updated version of the document primarily to engage stakeholders on the current level of market development and opportunities for further capital growth; review and update the assumptions and vision of the CMMP and develop targets for the various thematic areas of the CMMP.
Other objectives of the review are to introduce a Strategy Map and Key Performance Indicators for the CMMP and use the Balanced Scorecard Approach for performance measurement; align existing and derive new initiatives based on targets and strategic objectives; develop an implementation plan for initiatives with clear milestones, deliverables, timelines, resource requirements, dependencies, and identify challenges, opportunities and risks associated with the CMMP implementation and recommend ways of effective and more efficient implementation.
He said, “The comprehensive review of the Master Plan is now complete and a Revised Capital Market Master Plan has been produced.
“The revised Plan has incorporated the views and aspirations of stakeholders in our market as well as best practices globally to produce a well-articulated strategic plan for the next four years.
“The revised Capital Market Master Plan is designed to chart the strategic position and future direction of the capital markets while providing both the SEC and market participants clarity on the vision of the capital market and the road map required to facilitate a conducive business environment to encourage innovation, investment, growth and expansion of economic and employment opportunities in our country.
“Our vision is to be Africa’s most modern, efficient, and internationally competitive market that catalyses Nigeria’s economic growth and development. We believe the Plan provides a solid roadmap for achieving this vision as we collaborate with all our stakeholders under your continued support and proven leadership.”
By Adedapo Adesanya
Crude oil gained more than 1 per cent on Monday after the United States issued an advisory to US-flagged vessels to stay as far as possible from Iranian territory while passing through the Strait of Hormuz and Gulf of Oman.
The price of Brent crude was up 99 cents or 1.5 per cent during the session to $69.04 a barrel, while the US West Texas Intermediate (WTI) crude rose 81 cents or 1.3 per cent to settle at $64.36 per barrel.
The US Department of Transportation (DOT) Maritime Administration yesterday noted that vessels going through the Strait of Hormuz and Gulf of Oman have historically faced the risk of being boarded by Iranian forces, including as recently as February 3.
The agency advised U.S.-flagged ships to stay close to Oman while eastbound in the Strait of Hormuz.
The move renewed concerns that tensions between the US and Iran could lead to oil supply disruptions. About a fifth of the oil consumed globally passes through the Strait of Hormuz between Oman and Iran.
US President Donald Trump has threatened to attack, citing possible executions of protesters, and saying “help is on its way.” He ordered the USS Abraham Lincoln aircraft carrier and a flotilla of accompanying ships to the region.
In June, the US attacked Iranian nuclear facilities at the end of a 12-day Israeli bombing campaign.
Iran’s foreign minister said on Saturday the country will strike US bases in the Middle East if attacked by American forces, which have built up their naval presence in the region.
Investors were also monitoring efforts by Western governments to curb Russia’s income from oil exports that support its war in Ukraine.
The European Commission has proposed a sweeping ban on any services that support Russia’s seaborne crude oil exports, in fresh efforts to reduce revenues that help Russia’s war against Ukraine.
Refiners in India, once the biggest buyer of Russian crude, are avoiding purchases for delivery in April. Market analysts noted that if India fully stopped purchasing this crude, it would boost oil prices.
Meanwhile, Tengiz oilfield in Kazakhstan has returned 60 per cent of its peak production and was pumping at a rate of 550,000 barrels per day as of Sunday, following a forced shutdown for half of January due to a fire.
Tengiz, which is operated by a consortium led by US supermajor Chevron, is expected to reach peak levels of oil output of about 950,000 barrels per day by February 23.
By Dipo Olowookere
It was a positive start to the week for stock investors in Nigeria as they grew their wealth by 1.29 per cent on Monday amid a hunt for dividend-paying equities.
Business Post reports that three of the five sectoral indices ended in green, with the industrial goods space leading with a 4.76 per cent appreciation, and the energy counter up by 1.29 per cent, while the consumer goods index gained 0.74 per cent.
However, due to profit-taking in the financial services ecosystem yesterday, the banking counter went down by 0.04 per cent, and the insurance sector lost 0.03 per cent.
When the closing gong was struck, the All-Share Index (ASI) soared by 2,218.73 points to 173,946.22 points from 171,727.49 points, and the market capitalisation surged by N1.424 trillion to N111.659 trillion from N110.235 trillion.
The trio of May and Baker, CAP, and DAAR Communications improved by 10.00 per cent during the session to close at N43.45, N90.20, and N2.09 apiece, while RT Briscoe gained 9.98 per cent to trade at N13.89, with Deap Capital growing by 9.97 per cent to N7.50.
Conversely, Eunisell lost 9.98 per cent to settle at N134.85, Tripple Gee slumped by 8.90 per cent to N6.65, Abbey Mortgage Bank crashed by 8.03 per cent to N13.75, Austin Laz declined by 7.41 per cent to N5.00, and Haldane McCall slipped by 6.56 per cent to N3.99.
On the first trading day of the week, 59 stocks ended on the advancers’ log, and 26 stocks finished on the laggards’ table, representing a positive market breadth index and strong investor sentiment.
Despite the gains, the activity level waned on Monday as the trading volume and value decreased by 18.73 per cent and 35.27 per cent, respectively, while the number of deals increased by 29.32 per cent.
A total of 775.2 million equities worth N27.9 billion exchanged hands in 65,960 deals yesterday compared with the 953.8 million equities valued at N43.1 billion traded in 51,005 deals last Friday.
Access Holdings was the busiest stock for the session with a turnover of 67.1 million units worth N1.6 billion, Zenith Bank sold 46.2 million units valued at N3.4 billion, Secure Electronic Technology traded 43.9 million units for N47.9 million, Veritas Kapital exchanged 39.4 million units worth N91.6 million, and Mutual Benefits transacted 33.9 million units valued at N145.7 million.
By Modupe Gbadeyanka
A subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Insurance, has continued to showcase institutional excellence, becoming one of Nigeria’s top-performing insurers.
At the 2025 Risk Analyst Insurance Brokers Performance Review Awards, the underwriting firm won the Life Insurance category for its operational discipline, prompt claims settlement, and partnership-driven approach that fosters long-term confidence with clients and brokers.
The organisers were impressed with the company’s performance in life insurance, which reflects the broader institutional direction of Stanbic IBTC Holdings, which is building resilient, trusted, and high-performing financial institutions that contribute to Nigeria’s economic growth and the development of the insurance sector.
“At Stanbic IBTC Insurance, trust is built through reliable performance, timely claims settlement, and service that supports customers when it matters most. This recognition reflects the quality of service we provide for our clients and partners.
“We are honoured to receive this accolade and will continue to raise standards across the industry,” the chief executive of Stanbic IBTC Insurance, Akinjide Orimolade, stated.
Also commenting, the chief executive of Stanbic IBTC Holdings, Mr Chuma Nwokocha, said, “We are proud of this achievement, which highlights the strength of our insurance business and the broader Stanbic IBTC Group’s focus on building strong, enduring institutions.
“Stanbic IBTC Insurance continues to set benchmarks in professionalism, client service, and operational excellence; reinforcing our role as a trusted partner to individuals and businesses across Nigeria.”
Every year, Risk Analyst Insurance Brokers Limited, which organises the event, carries out an annual assessment of insurance underwriters by evaluating partners based on key criteria, including claims settlement efficiency, service delivery, responsiveness, and broker–underwriter collaboration.
The initiative aims to promote accountability, raise service standards, and strengthen trust across Nigeria’s insurance ecosystem.
The 2025 performance of Stanbic IBTC Insurance highlights its role as a dependable and credible underwriting partner in the market.
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