The UK government is backing Nigeria’s capital market growth through its MOBILIST programme (Mobilising Institutional Capital Through Listed Product Structures). This collaboration aims to unlock private investment for sustainable development goals (SDGs) in Nigeria.
Nigeria’s capital market has the potential to fuel the country’s economic goals, including a clean energy transition. However, achieving the SDGs by 2030 requires an estimated $10 billion annually.
Recent MOBILIST events in Lagos brought together key players from Nigeria’s financial sector to discuss overcoming challenges to SDG investment in the public markets. This builds on the partnership launched last year between MOBILIST and the Nigerian Exchange Limited (NGX).
Speaking at the event, British Deputy High Commissioner Jonny Baxter said: “The UK is committed to supporting Nigeria’s capital market development to achieve its economic goals, including clean energy.”
This was reechoed by MOBILIST Programme Lead, Ross Ferguson, who highlighted the potential of public markets to mobilize private capital for sustainable development. “The MOBILIST partnership promotes market efficiency, sustainability reporting, and ESG principles. This event is a milestone for deepening Nigeria’s capital market and driving sustainable development,” he said.
MOBILIST offers financial and technical support to create innovative investment products listed on the NGX. These products aim to attract large-scale private investment for tackling development and climate challenges. MOBILIST also provides research and advocacy to improve the environment for issuers, investors, and intermediaries.
The need for private investment is crucial. According to the OECD, Africa needs an additional $194 billion annually to reach the SDGs by 2030. Collaboration between governments, financial institutions, and development agencies is essential to bridge this gap.
This partnership between the UK and Nigeria aims to position Nigeria’s capital market as a leader in mobilizing private capital to achieve sustainable development goals.