The Federal Government has announced plans to offer targeted incentives to attract major state-owned and private enterprises including the Nigerian National Petroleum Company Limited (NNPCL) and Nigeria Liquefied Natural Gas (NLNG) Limited, to list on the Nigerian Exchange Group (NGX).

Speaking on Monday at the 2026 National Capital Market Conference in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, stated that while the government strongly advocates for the listing of these energy giants to foster transparency and democratize wealth, it will rely on market-friendly incentives rather than coercion.

“We will encourage these companies to list, but we will not force them because we want a free market. We will use incentives to attract them,” Oyedele emphasized, adding that listing NNPCL alone could dramatically expand the size and liquidity of Nigeria’s capital market.

Key Financial Indicators and Reforms Highlighted

Surging Equities Market: Driven by ongoing macroeconomic reforms, equities market capitalization has surged from under ₦30 trillion in mid-2023 to approximately ₦160 trillion.

Growing Pension Funds: Total pension fund assets have reached ₦27.5 trillion, boosting domestic investment capacity.

Global Index Ambitions: Nigeria is actively working to rejoin J.P. Morgan’s flagship emerging-market government bond index and secure an upgraded sovereign classification.

Crackdown on Ponzi Schemes: A new regulatory master plan will tackle fraudulent investment schemes through social media monitoring, joint law enforcement, and a new fraud restitution mechanism.

Strengthened Judicial Support: The Investment and Securities Tribunal (IST) is being empowered to handle and resolve capital market disputes in real time.

To deepen financial inclusion, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, outlined the operational framework for the newly backed National Savings Scheme under the Investments and Securities Act 2025.

Designed to connect domestic savings to productive economic investments, the scheme caters to traders, farmers, and young graduates saving for education, housing, or retirement.

The funds will be managed by SEC-registered professional fund managers, supported by a tripartite Memorandum of Understanding (MoU) between the SEC, the Nigeria Revenue Service (NRS), and FSD Africa to provide tax incentives for participants. (NAN)