SEC's Agama urges Nigerian universities to seek capital market funding

At the University of Ibadan Alumni Association Annual Public Service Lecture, Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), urged Nigerian universities to reduce their dependence on government allocations and seek funding through the capital market. The lecture, themed ‘First and Best But Whose Capital Built It?

Rethinking How Nigeria Funds Its Own Future’, highlighted the historical foundation of the University of Ibadan, established in 1948 with land donations from local chiefs. Agama noted that despite the university's significant achievements, it has never raised long-term funds from the capital market.

He pointed out the unsustainability of relying on government funding, given the fiscal realities in Nigeria, and mentioned that the university has approximately 41,700 students but inadequate accommodation. Agama proposed five financing instruments under the Investments and Securities Act 2025, including an endowment fund, bonds, and a Real Estate Investment Trust (REIT) for student housing.