Vice-President Kashim Shettima has reiterated the Tinubu administration’s ambition to expand Nigeria’s economy to $1 trillion over the next ten years, stressing the need for sound policies, strategic alliances, and innovative financial systems.

Speaking at the 2025 Africa and Middle East Depositories Association (AMEDA) Conference in Lagos, Shettima — represented by the Special Adviser to the President on Economic Matters, Mr. Tope Fasua — emphasized the pivotal role of financial market infrastructures in achieving the country’s economic goals.

The conference, themed “Shaping the Future: Financial Markets Infrastructures as Catalysts for Transforming Economies,” was organized by AMEDA in collaboration with the Central Securities Clearing System (CSCS) Plc.

Highlighting the importance of financial systems, Shettima said:

"Financial market infrastructures — including depositories, clearing houses, payment systems, and digital platforms — are fundamental for fostering trust, enhancing transparency, and ensuring market liquidity."

He reaffirmed the administration’s commitment to strengthening these infrastructures through a mix of regulatory reforms, strategic market development, and active public-private sector partnerships. Shettima noted that President Tinubu’s economic agenda prioritizes inclusive finance, aiming to expand opportunities and deliver real benefits to Nigerians.

The Vice President pointed to initiatives aimed at boosting capital market participation, improving funding access for MSMEs and startups, and financing key infrastructure projects through instruments such as green bonds, social bonds, and sukuk.

Shettima also called on African financial markets to embrace digitalization and advance regional integration, noting that the African Continental Free Trade Area (AfCFTA) provides a historic opportunity to unify 54 nations into a robust market of over 1.4 billion people.

"Africa and the Middle East stand at the intersection of demographic growth, digital innovation, and bold policy reforms — a combination that paves the way for transformative economic development," he said.

In his address, AMEDA Chairman Abdulla Abdin underscored the critical role financial infrastructures play in fostering economic growth, innovation, transparency, and investment attraction. He described financial infrastructures as essential tools for driving market efficiency and advancing economic integration across Africa and the Middle East.

The conference brought together top stakeholders from across the regions to discuss the future of financial markets and their role in driving economic progress.