Value of Shariah-Compliant Products in Nigerian Capital Market to Reach NGN 5 Trillion by 2025
December 15, 2022 | Updated at December 15, 2022
Nigeria is anticipating the listing of 50 Shariah-compliant products with a market value of NGN 5 trillion (USD 2.2 billion) between now and 2025, as per a statement made by Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC), on the 7th of December 2022.
Why it Matters?
The current expectations are consistent with the newly released, revised edition of the SEC's Capital Market Masterplan (2021-2025). According to Yuguda, the non-interest capital market (NICM) has enormous potential in the nation since it can draw in untapped individuals who seem uninterested in conventional instruments and encourage current investors to diversify their portfolios by including ethical and socially conscious investments. Among the new goals f...