Economy
SEC, Others Working to Improve Nigeria’s Policy Environment to Attract Investors
By Aduragbemi Omiyale
The Securities and Exchange Commission (SEC) has said it was working hard with other agencies to improve Nigeria’s policy environment so as to make it more attractive to investors.
According to the Director-General of the agency, Mr Lamido Yuguda, efforts are being made to position the capital market as a viable platform for getting long-term funds for infrastructure development, among others.
He said working with a think-tank group like the Nigerian Economic Summit Group (NESG) could fast-track the development of effective policies that will drive economic growth.
“Our collective economic power is bigger than the government and in many countries, you find out that the capital market is actually funding the government.
“When you save, the finance is used to create economic value that actually enhances your standard of living and this is a win-win. You get financial returns and also get utility from the investments and this is actually achievable,” the DG said when a team from NESG visited him in Abuja at the weekend.
The organisation was at the commission’s office to seek collaboration towards the development of the economy, which Mr Yuguda was happy about.
“On the capital market, it is a welcome development that we are talking with the NESG for there is something that really needs to happen in this country.
“When you look at our policy environment, in many areas, it is not conducive for the return of capital to investors and we are working hard to tackle this,” the SEC DG noted.
He stated that the telecommunications companies are successful because no one is getting the services for free as everyone pays.
“We all pay for the services, no one is getting the services for free. But when we move on our roads, we say no we do not want to pay for it. In other countries, people pay for their roads and they are happy doing that because the roads are good.
“We need to have collaboration with a group like NESG. Once we are able to put things right, investors will be willing to put in money and there will be returns,” Mr Yuguda stated.
In his remarks, Chief Executive Officer of NESG, Mr Laoye Jaiyeola, expressed worry that the banking sector is being over-stressed by borrowers, urging the governments and corporates organisations to look towards the capital market for their funding needs.
Mr Jaiyeola stated that transactions can be restructured to raise bonds, bills and all of those things that will fund whatever it is that needs to be funded without going through banks.
“The securities market needs to take the bull by the horn otherwise we are going to be in perpetual debt as a Nation and that will not help us. That is one of the reasons we say let’s re-engage, how can we get an Investments and Securities Act that will ensure that the needed funding for development in Nigeria is given priority and then we can fund Nigeria for a longer-term.
“The short-term funding cannot help us; we need to begin to move to long-term. We are passionate about it and we need to raise these funds for the needed development funding for Nigeria,” he stated.
Responding to the call for a robust ISA, the Executive Commissioner for Legal and Enforcement at SEC, Mr Reginald Karawusa, stated that efforts are being made toward this.
According to him, the law was signed by late President Musa YarÁdua in 2007, which makes it 15 years old now. He said SEC set up an industry-wide committee to rework the law, adding that several market experts were involved in redrafting it with inputs from stakeholders.
“A draft was tabled to the 8th assembly. Unfortunately, the assembly left before passing the Bill. Getting the bill passed will be a major thing for the capital market.
“There are new provisions that will strengthen the SEC to effectively regulate to make us a top-notch regulator to increase the number of products.
“There is also a provision that will enable us to play with National Savings Scheme, which is another major gate changer if the Bill becomes passed. Therefore, any support we can get from the NESG will be appreciated,” he stated.
By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has said ongoing reforms and strategic policy implementation in Nigeria’s petroleum sector are driving significant investments and strengthening the country’s position as a leading energy destination in Africa.
Mr Lokpobiri stated this at the Management Retreat of the Ministry of Petroleum Resources, where he stressed the need for improved institutional performance and accountability to sustain growth in the sector.
According to the Minister, the federal government has deliberately pursued far-reaching reforms aimed at creating a stable and investor-friendly environment capable of attracting local and foreign capital into the oil and gas industry.
“From far-reaching institutional reforms to the effective implementation of strategic policies, we have remained committed to carrying all stakeholders along, fostering a conducive environment for investments to flourish,” Mr Lokpobiri said.
“As a result, our petroleum sector has witnessed significant investments that continue to strengthen Nigeria’s position as a leading energy destination.”
The Minister noted that the gains recorded in the sector were the product of collective efforts across the Ministry and its agencies, commending staff for their dedication and professionalism.
“The Management Retreat of the Ministry of Petroleum Resources provided an important platform to reiterate that these accomplishments would not have been possible without the collective dedication, professionalism and teamwork of every staff member across the Ministry and its agencies,” he stated.
Mr Lokpobiri said the retreat, themed Driving Institutional Performance and Accountability in the Petroleum Sector for Sustainable National Development, underscored the importance of continuous improvement in service delivery and operational efficiency.
Drawing lessons from the theme, he urged officials of the Ministry and regulatory agencies to intensify efforts toward enhancing institutional effectiveness and strengthening governance frameworks.
“I encouraged that we must redouble our efforts, continuously improve the quality of our services, and strengthen institutional performance,” he said.
The Minister further emphasised the continued relevance of fossil fuels in the global energy mix, stressing that Nigeria must leverage its hydrocarbon resources to drive economic growth while ensuring citizens benefit from ongoing reforms.
“With fossil fuel as the dominant source of energy, we must ensure that Nigerians experience the benefits of our progress and that Nigeria remains the preferred investment destination in Africa and a globally competitive hub for energy investments,” Mr Lokpobiri added.
By Aduragbemi Omiyale
The N3.2 billion rights issue of Universal Insurance Plc has been extended by almost two weeks after securing regulatory approval.
The exercise was earlier scheduled to close on June 10, 2026, but will now close on Monday, June 22, 2026.
The extension was granted by the Securities and Exchange Commission (SEC) after a request from the underwriting organisation.
In the rights issue, Universal Insurance is offering to shareholders 2,666,666,667 ordinary shares of 50 Kobo each at N1.20 per share on the basis of one new ordinary share for every existing six ordinary shares held as of the close of business on Monday, March 30, 2026.
Subscription for the acquisition of the company’s extra shares opened on Wednesday, May 13, 2026.
The extension gives investors more time to increase their stake in the insurance firm, which intends to use proceeds from the exercise to boost its capital base, as mandated by the National Insurance Commission (NAICOM).
Insurance companies operating in Nigeria have been given till July 31, 2026, to shore up their capital base or pack up. Operators can also explore a merger if they wish.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited opened its doors to market participants in four days last week as a result of a public holiday observed on Friday, June 12, for 2026 Democracy Day in the country.
In the week, investors bought and sold 4.964 billion shares worth N207.521 billion in 235,966 deals, as against the 3.966 billion shares valued at N175.659 billion that exchanged hands in 343,587 deals a week earlier.
Analysis showed that the financial services industry led the activity chart with 4.116 billion shares valued at N84.607 billion in 96,165 deals, contributing 82.92 per cent and 40.77 per cent to the total trading volume and value, respectively.
The services sector transacted 232.479 million shares worth N4.955 billion in 17,614 deals, while the industrial goods segment exchanged 144.988 million shares worth N39.077 billion in 24,775 deals.
Sterling Holdings, FCMB, and Access Holdings were the most traded stocks with 2.883 billion units sold for N36.188 billion in 15,533 deals, accounting for 58.09 per cent and 17.44 per cent of the total trading volume and value, respectively.
A total of 40 equities appreciated in the week versus 23 equities in the previous week, 53 equities depreciated versus 65 equities a week earlier, and 53 equities remained unchanged versus 58 equities in the preceding week.
ABC Transport was the best-performing equity for the week after it gained 25.60 per cent to trade at N7.80, Consolidated Hallmark appreciated by 23.13 per cent to N8.25, Abbey Mortgage Bank rose by 21.93 per cent to N11.40, Infinity Trust Mortgage Bank grew by 20.32 per cent to N11.25, and Austin Laz soared by 15.16 per cent to N4.33.
The worst-performing equity last week was Fidson Healthcare because of its 25.86 per cent loss, closing at N101.20. Neimeth declined by 19.14 per cent to N8.55, Union Homes REIT shed 17.36 per cent to close at N70.00, SUNU Assurances slipped by 11.38 per cent to N3.97, and Unilever Nigeria dropped 10.26 per cent to trade at N140.00.
As for the index movement, the All-Share Index (ASI) and the market capitalisation chalked up 0.88 per cent each to settle at 244,738.74 points and N156.970 trillion, respectively.
Similarly, all other indices finished higher apart from the pension, AFR Bank Value, MERI Growth, MERI Value, consumer goods, Lotus II, industrial goods, sovereign bond and commodity indices, which fell by 0.03 per cent, 1.20 per cent, 0.21 per cent, 1.61 per cent, 0.54 per cent, 0.51 per cent, 1.00 per cent, 2.04 per cent and 0.34 per cent, respectively.
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