By Al-Mustapha A. Mustapha
Nigeria is concentrating on a N750 trillion capital market by 2036 as the federal government strikes to mobilise home financial savings for funding and cut back reliance on financial institution lending and international sources of financing.
The goal, up from a baseline of about N250 trillion, is contained in the Nigerian Capital Market Master Plan 2.0 (2026–2036), unveiled by the Securities and Exchange Commission (SEC) on Monday in Abuja alongside a National Savings Scheme designed to encourage Nigerians to save lots of and make investments.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, mentioned a deeper capital market was wanted to help Nigeria’s ambition of constructing a $1 trillion economic system and guarantee companies may entry long-term capital.
“Higher share prices alone do not transform an economy. What matters is whether capital reaches productive businesses and whether ordinary Nigerians share in the returns,” he mentioned.
Oyedele mentioned the federal government would help the event of latest funding merchandise, together with infrastructure funds, actual property funding trusts and sustainable finance devices.
He mentioned chosen state-owned enterprises could be inspired to record on the Nigerian Exchange to enhance transparency and permit Nigerians to share in their worth, whereas non-public corporations could be inspired to record via incentives slightly than compulsion.
The SEC Director-General, Emomotimi Agama, mentioned the market’s development in worth had not translated into adequate participation by Nigerians, whereas companies and infrastructure tasks remained closely reliant on banks, authorities budgets and international sources of capital.
“Too few Nigerians own a share, a bond or a unit in a collective investment scheme. Too much of our savings sits idle, outside the formal system, quietly eroded by inflation,” Agama mentioned.
He mentioned the National Savings Scheme would supply Nigerians with a proper channel to save lots of and make investments, with funds managed by skilled fund managers registered with the fee.
“The National Savings Scheme is, first and foremost, an instrument of inclusion,” he mentioned.
Agama mentioned the scheme had authorized backing below the Investments and Securities Act 2025. He added that the SEC would work with the Nigeria Revenue Service and FSD Africa on its implementation, together with tax incentives supposed to encourage financial savings.
He mentioned the brand new grasp plan was developed via consultations with market operators, buyers, regulators and authorities establishments, with implementation to be tracked via assigned duties, timelines and efficiency measures.
“Every commitment in NCMMP 2.0 will have an owner, a timeline and a scorecard, and we will report progress openly to this nation,” he mentioned.
Agama mentioned fairness market capitalisation crossed N100 trillion for the primary time in January and reached recent information above N160 trillion in September. He added that the All-Share Index rose by about 60 per cent in 2026, following a 51 per cent return in 2025.
The Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, who represented Vice-President Kashim Shettima, mentioned the capital market ought to play a larger function in financing infrastructure and growth slightly than leaving the federal government depending on public budgets and international borrowing.
Hadejia mentioned the Nigerian Exchange All-Share Index had risen from about 35,000 factors in May 2023 to about 246,000 factors, whereas the worth of listed equities had grown from about N30 trillion to almost N160 trillion.
“The capital market is a bridge between the savings of Nigerians and the investment Nigeria needs,” he mentioned.
He added that the National Economic Council would work with the SEC to assist states perceive learn how to use the capital market responsibly to finance growth tasks.
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