In 2025, Nigeria solidified its position within the West African financial sector by being recognized as the second-largest investment banking hub in Sub-Saharan Africa, according to the Sub-Saharan Africa Investment Banking Review Full Year 2025. This source, published by LSEG Data & Analytics, highlighted a significant increase in overall fee revenue for Nigeria, although the landscape for mergers and equity deals was observed to be cooling amidst a booming debt market.

The report indicates a total of approximately $503.9 million was made from investment banking fees across Sub-Saharan Africa in 2025, marking a 13.1 percent growth from the previous year. While South Africa leads the region by contributing 51.5 percent of the total fees, Nigeria maintains a significant share at 19.4 percent, demonstrating its crucial role in the financial services sector. The Ivory Coast follows with a smaller slice of the market at 6.9 percent.

As Nigeria continues to be a critical player in the investment banking arena, the divergent trends in different segments point to potential challenges and opportunities. With the debt market flourishing while mergers and equity ventures decline, stakeholders in Nigeria's financial services must adapt to the evolving dynamics to sustain growth and leverage the country's influential presence in the broader African context.