Senator Osita Izunaso has called for the continuous review of Nigeria’s capital market laws to ensure they remain responsive to emerging economic realities, technological innovation, and global investment trends. He said modernising the country’s regulatory framework is essential for attracting investment, strengthening market confidence, and supporting long-term economic growth.

Speaking on the importance of legislative reforms, Izunaso noted that the capital market is a critical driver of national development, providing businesses with access to long-term financing while creating wealth-building opportunities for investors. He stressed that outdated laws could limit market efficiency and reduce Nigeria’s competitiveness in the global financial system.

The senator explained that regular updates to capital market legislation would improve investor protection, enhance transparency, encourage innovation, and create a more resilient financial ecosystem. He also emphasised the need for regulations that can accommodate emerging financial technologies and evolving investment products.

According to him, a dynamic legal framework would help strengthen corporate governance, improve market integrity, and increase domestic and foreign investor confidence. He added that effective regulation is vital for sustaining economic expansion and supporting private sector development.

Financial experts have also advocated periodic reforms to Nigeria’s capital market laws, noting that evolving market conditions require regulatory systems that promote efficiency, accountability, and sustainable investment. They believe stronger legal and institutional frameworks will encourage greater participation in the capital market and deepen financial inclusion.

Stakeholders maintain that collaboration between lawmakers, regulators, financial institutions, and market operators will be essential to developing policies that support innovation while maintaining market stability and investor confidence.

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Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has advocated the establishment of a specialised commercial dispute tribunal to accelerate the resolution of business-related conflicts and improve investor confidence in the country. He argued that a more efficient dispute resolution framework would help unlock capital, reduce investment risks, and strengthen Nigeria’s economic competitiveness.

Speaking at a business and investment forum, Edun noted that lengthy legal processes often discourage investors and delay critical business decisions. According to him, creating a dedicated tribunal focused on commercial disputes would provide faster resolutions, improve contract enforcement, and create a more predictable business environment.

The minister stressed that access to swift and transparent justice is a key factor considered by both local and foreign investors when making investment decisions. He explained that improving dispute resolution mechanisms could support ongoing efforts to attract private capital into strategic sectors of the economy, including infrastructure, manufacturing, technology, and housing.

Edun further highlighted the Federal Government’s commitment to implementing reforms that strengthen the ease of doing business and encourage long-term investments. He said Nigeria must continue modernising its legal and regulatory frameworks to align with global best practices and improve its attractiveness as an investment destination.

Industry stakeholders have long identified slow judicial processes and contract enforcement challenges as obstacles to business growth. Analysts believe that a specialised commercial dispute tribunal could reduce case backlogs, lower transaction costs, and improve confidence among domestic and international investors.

The proposal comes as Nigeria seeks to increase private-sector participation in economic development and mobilise additional capital to support infrastructure projects, job creation, and sustainable growth across multiple sectors.

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Edo State Government has denied claims that it revoked the land titles of Presco Plc, one of Nigeria’s leading agribusiness companies.

The state clarified that the earlier circulated notice was unauthorized and misrepresented the government’s position.

A senior government official said the state only acknowledged federal jurisdiction over land containing strategic oil assets and that Presco’s full holdings were never withdrawn.

“Contrary to misinformation, Edo State is not dispossessing Presco Plc of its land. The government only acknowledged federal control over land hosting oil assets,” the official stated.

Public backlash follows earlier publication

The earlier notice, which suggested that Presco’s entire 13,545 hectares had been revoked on grounds of “overriding public interest,” had triggered widespread criticism. Analysts warned that such an action could damage investor confidence and threaten the state’s reputation as an investment hub.

Presco Plc has operated in Edo State for over 34 years, employing thousands of residents directly and indirectly. It is also one of the most profitable companies listed on the Nigerian Exchange.

Capital market investor Evans Asagwu said the government’s clarification was necessary to calm fears.

“Abrupt policy disruption sends a wrong signal to investors. This clarification brings some relief,” he said.

Government launches investigation

The state government has opened an administrative review to determine how the unauthorized notice was processed and circulated. It urged the media, investors and the public to disregard the earlier document.

“The public is advised to ignore any unauthorized notice regarding Presco Plc. Government will uphold due process and investor protection,” the statement added.

Possible next steps for Presco Plc

Presco has not yet issued an official response. Industry experts say the company may seek legal clarity or request compensation if any portion of its operational land is affected.

Economists warn that the state must balance control of mineral resources with the need to protect major agricultural investments.

“Balancing mineral resource control with agribusiness continuity is critical,” a development policy analyst said.

Stakeholders await outcome of probe

The controversy has renewed debate around Edo State’s investment policies. While the government maintains its support for large-scale agricultural investments, observers say future decisions will be closely monitored.

For now, the state insists Presco remains a valued partner and that only a small parcel of land—not the entire estate—is under review.

Stakeholders now await the findings of the administrative investigation and how the state manages the overlap between agriculture, oil exploration and investor confidence.

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