Key Points
- The Federal Government has proposed a national risk market to help attract private investment and reduce the burden of project risks on government.
- It also plans to establish a specialised Commercial Dispute Resolution Tribunal to speed up business-related cases.
- Finance Minister Taiwo Oyedele says faster dispute resolution and stronger institutions are essential to attracting long-term capital.
- The Securities and Exchange Commission and capital market academics called for stronger collaboration between regulators, researchers and industry.
Main story
The Federal Government has proposed the establishment of a national risk market and a specialised Commercial Dispute Resolution Tribunal as part of efforts to strengthen Nigeria’s investment climate and deepen the capital market.
The Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, announced the proposals at the second Biennial Conference of the Capital Market Academics of Nigeria (CMAN) in Abuja.
Oyedele said the proposed national risk market would enable the government to transfer and share risks with private investors instead of carrying them solely on its balance sheet.
According to him, the market would cover political, climate, agricultural and infrastructure risks, as well as policy continuity insurance, export guarantees and credit enhancement instruments.
He said the initiative would improve infrastructure financing by ensuring risks are priced appropriately and allocated to institutions best equipped to manage them.
The minister also proposed the creation of a specialised Commercial Dispute Resolution Tribunal to address one of the biggest obstacles to investment—lengthy litigation.
He said commercial disputes currently take an average of 15 years to progress through Nigeria’s judicial system, creating uncertainty for businesses and increasing the cost of investment.
Under the proposal, the tribunal would comprise judges and arbitrators with expertise in commercial, financial and capital market matters. It would also operate digital case management systems and mandatory timelines to speed up the resolution of disputes involving businesses, suppliers and joint venture partners.
Oyedele said the tribunal would complement the existing Investment and Securities Tribunal while improving confidence in Nigeria’s legal and investment environment.
He identified an independent judiciary, a credible Central Bank and an efficient public bureaucracy as critical institutions required to attract sustainable investment.
The minister also urged government officials, professionals and the media to improve communication around economic reforms, stressing that sound policies alone would not attract long-term capital without strong institutions, policy consistency and efficient justice delivery.
Also speaking, the Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, called for stronger collaboration between regulators and academics to support evidence-based policymaking.
He said Nigeria’s capital market was undergoing significant reforms following the enactment of the Investments and Securities Act, 2025, and the implementation of a new 10-year Capital Market Master Plan.
According to Agama, rigorous academic research and constructive debate would help ensure regulations remain responsive to changing market realities and aligned with international best practices.
Earlier, the President of CMAN, Prof. Uche Uwaleke, called for a stronger partnership between academia and the financial services industry to improve policy development and deepen Nigeria’s financial markets.
He urged the Federal Ministry of Education and the National Universities Commission to recognise industry experience alongside academic publications in appointing and promoting lecturers in finance-related disciplines.
Uwaleke also recommended recruiting retired banking and capital market professionals as adjunct lecturers while encouraging financial regulators to institutionalise structured sabbatical and research fellowship programmes for academics.
The issues
Nigeria continues to face challenges attracting long-term investment due to policy uncertainty, slow judicial processes and institutional weaknesses. The government believes reforms that improve risk-sharing mechanisms and accelerate commercial dispute resolution could strengthen investor confidence while supporting broader capital market development.
What’s being said
“The proposed national risk market will allow government to share risks with the capital market instead of absorbing them directly on its balance sheet.” — Prof. Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy
“Commercial disputes currently take an average of 15 years to pass through the High Court, Court of Appeal and Supreme Court.” — Prof. Taiwo Oyedele
“Good regulation begins with good thinking. The policies we make are only ever as strong as the evidence and the ideas that inform them.” — Dr Emomotimi Agama, Director-General, SEC
What’s next
The Federal Government is expected to develop the legal and institutional framework for both the proposed national risk market and the specialised Commercial Dispute Resolution Tribunal as part of wider efforts to improve the investment environment and strengthen Nigeria’s capital market.
Bottom line
The proposed risk market and specialised commercial tribunal form part of the government’s broader strategy to reduce investment risks, improve dispute resolution and create a more predictable environment for domestic and foreign investors.
