Nigeria is proposing a series of regional capital market reforms to make it easier for investors to trade bonds across \u200bWest Africa and unlock long-term funding for infrastructure and growth, \u200cFinance Minister Taiwo Oyedele said on Tuesday.<\/p>\n
Oyedele told an S&P Global Ratings Africa Summit in Lagos that fragmented capital markets across West Africa are limiting access to long-term \u200bfinancing, with no single market deep enough to attract the scale \u200bof investment needed for infrastructure and economic growth.<\/p>\n
He proposed a \u2060regional “passport” regime that would allow issuers approved in one participating market \u200bto raise capital across others without seeking separate regulatory approvals.<\/p>\n
Nigeria is also advocating \u200ba unified investor identification system, enabling investors registered in one market to buy bonds and equities across the region without repeating onboarding requirements.<\/p>\n
Oyedele called for linking regional trading, settlement \u200band payment infrastructure so securities transactions can be settled directly in \u200blocal currencies, reducing reliance on the US dollar.<\/p>\n
The plan would encompass 10 countries: Nigeria and \u200cGhana \u2060and eight francophone countries that share the CFA franc and a common central bank. They are Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo.<\/p>\n
Oyedele said existing initiatives, including the West African Capital Markets Integration \u200bCouncil, the African \u200bExchanges Linkage Project \u2060and the Pan-African Payment and Settlement System (PAPSS), provide a foundation for greater market integration.<\/p>\n
“The task now is to \u200bjoin these pieces together,” Oyedele said.<\/p>\n
Additional proposals include creating a \u200bregional \u2060local-currency bond index and a credit enhancement facility to support cross-border infrastructure financing.<\/p>\n
Nigeria aims to attain investment-grade credit ratings within three years and is targeting a \u2060capital \u200bmarket worth at least $1 trillion under a 10-year \u200bcapital market plan, while making the country a more attractive destination for domestic and foreign \u200binvestors, Oyedele said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria is proposing a series of regional capital market reforms to make it easier for investors to trade bonds across \u200bWest Africa and unlock long-term funding for infrastructure and growth, \u200cFinance Minister Taiwo Oyedele said on Tuesday. Oyedele told an S&P Global Ratings Africa Summit in Lagos that fragmented capital markets across West Africa are […]<\/p>\n","protected":false},"author":6,"featured_media":22559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":3,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2362,33,27],"tags":[512,208,309,407,187,383,175,283,5050,1083],"class_list":["post-22558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-politics","category-west-africa","tag-benin","tag-burkina-faso","tag-guinea-bissau","tag-ivory-coast","tag-mali","tag-niger","tag-nigeria","tag-senegal","tag-taiwo-oyedele","tag-togo"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22558"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22558\/revisions"}],"predecessor-version":[{"id":22560,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22558\/revisions\/22560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/22559"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}