The Nigerian Senate Committee on Capital Markets and Institutions, in partnership with the Securities and Exchange Commission (SEC), is set to convene a landmark national stakeholders’ summit on municipal bonds and Sukuk, aimed at unlocking fresh avenues for local government infrastructure ^READ MORE financing.
The summit, scheduled to hold in Uyo, Akwa Ibom State, will bring together leading voices from government, regulatory bodies, the investment community, and the private sector.
A statement from SEC said, with the theme, “$1 Trillion Nigerian Economy: Infrastructure Financing through the Capital Market”, the forum would interrogate how municipal bonds and Sukuk can be leveraged to finance critical infrastructure at the grassroots level — from roads, healthcare facilities, and housing to education, water supply, and public transport systems.
Senator Osita Izunaso, Chairman of the Senate Committee on Capital Markets and Institutions, underscored the urgency of the conversation, noting that municipal bonds and Sukuk offer sustainable, market-driven alternatives to Nigeria’s overstretched fiscal channels.
He stressed that empowering local governments to raise capital through the market would reduce over-reliance on federal allocations, promote fiscal autonomy, generate employment, and accelerate Nigeria’s journey towards the projected $1 trillion economy.
“These instruments have been successfully deployed across the globe,” Izunaso said, “and it is time for Nigeria’s local governments to embrace them as a pathway to lasting development.” Director General of the SEC, Dr. Emomotimi Agama, echoed this sentiment, emphasizing that Nigeria’s infrastructure gap cannot be bridged through conventional revenue sources alone.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
