Nigeria is proposing reforms to integrate West African capital markets and attract greater cross-border investment, according to the country’s finance minister. Speaking at the S&P Global Ratings Africa Summit in Lagos, Taiwo Oyedele said fragmented financial markets across the region restrict access to the long-term financing needed for infrastructure and economic development because no single market is deep enough. His proposals include a regional passport system that allows companies approved in one participating country to raise capital across other markets without undergoing separate regulatory processes. Nigeria also wants to introduce a unified investor identification system and connect trading, settlement, and payment infrastructure to enable transactions in local currencies. The initiative would cover 10 of the region’s countries, including Nigeria, Ghana, Côte d’Ivoire, Senegal, and Benin. Oyedele also floated a local-currency bond index and a credit enhancement facility for cross-border projects. Nigeria hopes the reforms will support its ambition to build a $1 trillion capital market within a decade.