Nigeria: Commodities exchanges, warehouses can unlock $500bln — SEC
Agama explained that the Investments and Securities Act 2025 has empowered the SEC to take decisive actions to promote the sector. 'The Act sharpens the SEC's regulatory focus, ensuring it operates with the precision and authority required to steward a rapidly expanding market', he stated. He added: 'Today, I speak not just about the Investments and Securities Act (ISA) 2025 as a legislative milestone, but as a strategic blueprint to propel Nigeria into the league of top global economie.
It dismantles legacyconstraints, embeds global best practices, and positions our market as the engine room for national prosperity. The question before us is no longer if Nigeria can achieve a $1 trillion economy, but how soon—and the capital market, under this new Act, will be the accelerant'.
The SEC DG stressed that the Commission 'now has explicit powersto shut down Ponzi schemes and prosecute offenders—ending the eraof 'get-rich-quick' scams that erode market confidence. 'Investors are now covered for losses from revoked dealer licenses—a long-awaited safeguard that will boost participation. Trust is the currency of our capital markets. Without it, liquidity dries up'
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
8 minutes ago
- Zawya
Egypt's PM reviews efforts to support local pharmaceutical industry
Egyptian Prime Minister Mostafa Madbouly on Sunday chaired a meeting to review efforts to support and develop the country's pharmaceutical industry, with the aim of boosting local manufacturing and attracting more foreign investment. The meeting was attended by the Deputy Prime Minister for Human Development and Minister of Health and Population, Khaled Abdel Ghaffar, the Minister of Finance, Ahmed Kouchouk, and the heads of the Egyptian Drug Authority (EDA) and the Egyptian Authority for Unified Procurement (UPA). Madbouly affirmed the government's interest in providing all necessary support for the growth and localisation of this vital industry. He noted that Egypt has a long history in pharmaceuticals, with large industrial facilities, and possesses promising advantages for further progress, including a large domestic market and access to nearby regional markets. During the meeting, EDA Chairman Ali El-Ghamrawy presented a report on the state of the industry. He stated that the sector is nationally stable and has achieved significant jumps in local market sales in 2024 compared to 2023, with positive expectations for continued growth in 2025. El-Ghamrawy confirmed that there is a secure level of coverage for various therapeutic groups, including hormones, cardiovascular drugs, oncology products, and corticosteroids. He also assured that there is a safe strategic stock of pharmaceutical raw materials, sufficient for three to six months. The EDA chairman highlighted the growth of foreign companies in the Egyptian market, noting that their sales in 2024 saw a 43% increase compared to 2023. He attributed this progress to several measures taken by the EDA to attract international firms, including monitoring modern and innovative products, a reference-based registration process that reduces approval times from two years to as little as two months, a unified electronic registration system, and support for localisation projects. El-Ghamrawy also noted that the EDA provides about 979 essential regulatory services to support the pharmaceutical industry and has not increased the fees for these services in the past two years.
Zawya
2 hours ago
- Zawya
Northwestern Tunisia shifts from heavy fuel oil to natural gas
Northwestern Tunisia is experiencing a shift in its industrial zones, transitioning from heavy fuel oil to natural gas through newly constructed pipelines, providing cleaner air and economic opportunities to the region. The contrast is striking when you visit facilities like SICAM, an agri-food company specialising in canned tomatoes. Not long ago, the plant ran on heavy fuel oil. Thick black smoke choked the surrounding neighborhoods, machinery clogged up quickly, and starting the boilers was time-consuming. Today, due to natural gas, everything has changed. This transformation was made possible by the Natural Gas Transport and Distribution Network Development Project in Western Tunisia, implemented by the Societe Tunisienne de l'Electricite et du Gaz (STEG), with €49.39 million ($56 million) in financing from the African Development Bank. "With gas, we have eliminated pollution, reduced production costs, and increased our efficiency. We save up to 500,000 Tunisian dinars per season," says Kamel Trabelsi, Deputy Director General of SICAM. A TRANSFORMATIVE PROJECT FOR HOUSEHOLDS AND BUSINESSES Designed to improve access to cleaner, more affordable, and more reliable energy in a historically underserved region, the STEG project has already achieved two major natural gas activations: in February 2025 in Beja Sud and in June 2025 in Mjez Elbeb. These rollouts connected over 1,250 households to the natural gas network. Eventually, the infrastructure will serve 13,500 subscribers across 19 municipalities in Tunisia's Northwest, including 2,500 additional connections by the end of this year. "This project is truly improving people's lives. It not only heats homes, but also boosts local economic activity," notes Mohamed Riadh Hellal, Lead Department Head at STEG and the project's coordinator. DRIVING INDUSTRIAL AND ECONOMIC GROWTH Beyond residential connections, many businesses are benefiting from the switch to natural gas — with positive impacts on performance, production costs, and environmental sustainability. "Thanks to natural gas, our boilers now reach 95 per cent capacity in record time. Efficiency is up, maintenance is easier, and pollution has dropped significantly," explains Trabelsi. SICAM, connected to the grid in October 2024, now uses around 17,000 m³ of natural gas per production cycle. According to Mehdi Khoali, Chief Operations Officer at the African Development Bank, "One of the project's most transformative outcomes is the gradual industrialisation of the serviced zones. Around ten new industrial units — including brickyards and cement plants — have been established thanks to the gas supply. Others have expanded their operations. This is helping create jobs and strengthen regional economic resilience." A MODEL PARTNERSHIP BETWEEN THE AFRICAN DEVELOPMENT BANK AND STEG The project also stands as a model of effective collaboration between STEG and the African Development Bank. Hellal commends the Bank's swift disbursement process: "The African Development Bank disburses funds within five to seven days on average, compared to up to two months with other donors. That has been key to keeping the project on track." By accelerating the energy transition, fueling industrialisation, and improving living standards in western Tunisia, the STEG project — backed by the Bank — aligns seamlessly with Tunisia's national priorities for inclusion, green growth, and balanced regional development. -OGN / TradeArabia News Service
Zawya
2 hours ago
- Zawya
AMEA Power joins Phase II of $291mln Morocco desalination project
Dubai-based AMEA Power has announced its entry into the second phase of the Agadir desalination project in Morocco. The facility will be powered by its 150MW wind project in Laayoune, which is being co-developed with Cox. One of the fastest growing renewable energy companies in the region, AMEA Power boasts a clean energy pipeline of over 6GW across 20 countries. The first phase of the project was developed by Cox, a global leader in water and energy management, while the second phase will be delivered through a joint venture, with AMEA Power joining the project and supplying renewable energy through its co-developed wind farm. Once operational, it will become the company's first water desalination plant in Africa, said the company in a statement. This project is the first to be executed under the strategic joint venture agreement signed in May between AMEA Power and Cox. It reflects the shared ambition of both companies to deliver integrated infrastructure projects where access to water and energy are deeply interconnected. Upon completion of the expansion, the Agadir desalination plant will reach a total capacity of 400,000 cu m/day, making it one of the largest desalination facilities in Africa. The total investment for the second phase of the desalination project and the associated wind power facility is expected to exceed €250 million ($291 million). The desalination expansion is expected to be operational between 2026 and 2027, with the wind farm coming online in 2027. AMEA Chairman Power Hussain Al Nowais said: "Our entry into the second phase of the Agadir desalination project in Morocco, under the Water Alliance Ventures platform, reflects AMEA Power's ambition to address both water and energy challenges through integrated solutions." "This project is not only our first entry into the water sector in Africa – it is also a powerful example of what long-term partnerships can achieve for sustainable development across the region," noted Al Nowais. The project also reaffirms AMEA Power's commitment to Morocco, a core market in the company's long-term strategy. With several clean energy projects already under development, he added.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
