Nigeria’s capital market raised over N753 billion through commercial paper (CP) issuances between April and October 2025, according to Dr. Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC). The figures highlight both strong investor confidence and the resilience of Nigeria’s financial markets, particularly in supporting short-term financing across key economic sectors.
Speaking in an interview, Dr. Agama noted that the funds mobilised via CPs were critical in meeting the short-term financing needs of diverse sectors, including manufacturing, energy, and agriculture.
“Commercial paper issuance remained vibrant, with over N753 billion raised to support short-term funding needs across diverse sectors, from manufacturing to energy and agriculture,” the SEC DG said.
Landmark transactions and sustainable finance
Dr. Agama also highlighted landmark debt market transactions during the review period, including the N500 billion Climate Funding Special Purpose Vehicle and the N200 billion Elektron Finance bond issuance. These deals, he noted, demonstrate growing investor appetite for infrastructure projects and sustainable finance investments, a trend that is expected to shape the Nigerian debt market in the coming years.
“These figures are not just numbers; they represent confidence in our regulatory framework and the resilience of our market architecture,” Agama said, emphasising the role of strong oversight in fostering investor trust.
Broader market performance
The SEC DG explained that the strong performance of the commercial paper segment forms part of a broader capital-raising landscape, with the Commission approving various initiatives across debt, equity, and short-term instruments during the review period. Analysts say this diversification in capital mobilisation reflects a maturing market that can accommodate both traditional and innovative financing structures.
Outlook for investors
From a business desk perspective, Nigeria’s robust CP market signals healthy liquidity, increasing investor confidence, and expanding opportunities for short-term corporate financing. As companies continue to leverage CPs for working capital needs, market participants are likely to watch closely for emerging trends in sustainable finance and infrastructure investments, which are poised to play an increasingly significant role in Nigeria’s capital markets.
