Taiwo Oyedele urges FG to list NNPC, NLNG to grow capital market to $1trn

Taiwo Oyedele, minister of finance and coordinating minister of the economy, has called on the federal government to accelerate plans to list selected state-owned enterprises as part of efforts to grow Nigeria’s capital market to $1 trillion within the next decade.

Speaking at the national capital market conference 2026 on Monday, Oyedele said Nigeria should aim higher than the Securities and Exchange Commission’s (SEC) target of expanding the market from about N250 trillion to N750 trillion by 2036.

The minister said a $1 trillion capital market would support Nigeria’s ambition of building a $1 trillion economy by 2030 and expanding the economy further in subsequent years.

Oyedele said the country needs to mobilise domestic savings, attract foreign investment and create more opportunities for businesses to raise long-term capital locally.

On state-owned enterprises, he said listing selected government assets would improve transparency, broaden public ownership and deepen the capital market.

The minister specifically identified NNPC and NLNG as companies whose listings could significantly expand the market if their shares were made available to investors.

“NNPC’s potential market value could significantly increase the size of Nigeria’s capital market, drawing a comparison with Saudi Aramco, the Saudi Arabian oil company,” Oyedele said.

The minister said listing government-owned companies would enable Nigerians to participate in the wealth generated by national assets while creating more investment opportunities for domestic and international investors.

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