Nigeria was the largest of the African economies in 2022, but declining oil production has seen it slip down the rankings. It has turned – successfully – to capital-raising in a bid to reignite the economy and reclaim its crown.
Total revenue for investment banking in 2024 is projected to hit $142.16bn, fueled by a sharp increase in private equity activities, growing capital demands, and the adoption of sustainable finance practices. The market is expected to grow to $194.05bn by 2028 with further developments in Al-powered solutions, digital assets, and the deepening of ESG initiatives. The future of investment banking will be shaped by advancements in tech and adherence to sustainability.
The past year has marked a pivotal period for the investment banking sector in Nigeria, one of Africa’s largest economies. An increasing need for capital is spurring capital-raising activities, mergers and acquisitions, and sustainable finance across key industries like financial services, telecoms, real estate. consumer goods and energy sectors.