The Securities and Exchange Commission (SEC) has set a target of expanding Nigeria’s capital market to ₦750 trillion by 2036 and unveiled a National Savings Scheme to encourage more Nigerians to save and invest.
SEC Director-General Emomotimi Agama announced the initiatives on October 19 at the 2026 National Capital Market Conference in Abuja.
He presented the Nigerian Capital Market Master Plan 2026–2036, which aims to grow the market from a baseline of approximately ₦250 trillion to ₦750 trillion over the next decade.
The plan is designed to strengthen the capital market’s role in financing businesses, infrastructure and broader economic development.
SEC seeks broader participation in investments
Agama said market growth must go beyond increasing the total value of listed securities and other market instruments.
The commission wants more Nigerians to participate in the market, a wider range of investment products and stronger infrastructure and regulatory safeguards.
A larger pool of domestic investors could help companies raise long-term capital without relying exclusively on bank loans.
It could also give individuals more opportunities to participate in investments, provided they understand the risks and use regulated channels.
The SEC’s proposed National Savings Scheme is intended to encourage Nigerians to channel more of their savings into formal investment arrangements.
How the proposed savings scheme fits in
Under the framework outlined by the SEC, professional fund managers registered with the commission would manage funds under established governance arrangements.
The regulator has also discussed working with the Nigeria Revenue Service and FSD Africa on the initiative, including the development of tax incentives intended to encourage savings.
The scheme is linked to the legal framework established by the Investments and Securities Act 2025, according to the SEC’s announcement.
Its eventual impact will depend on implementation, the accessibility of the products offered and the confidence Nigerians have in the institutions managing their funds.
Potential investors should review the scheme’s final rules and disclosures before committing money.
What a bigger capital market could mean for businesses
A deeper capital market can provide companies with alternative ways to finance expansion, acquire equipment and develop new products.
Businesses may raise funds by issuing shares or debt securities, while investors can gain exposure to companies and other approved investment products.
A broader domestic investor base could also help reduce excessive dependence on a narrow group of funding sources.
However, the market’s growth target will require sustained investor confidence, reliable disclosures, effective supervision and products that meet the needs of different investor groups.
The regulator must also ensure that efforts to increase participation do not weaken investor protection.
Implementation will determine the plan’s success
The ₦750 trillion target is a long-term ambition, not a statement of the market’s current value.
Achieving it will require consistent progress in market infrastructure, financial literacy, product innovation and access to investment opportunities.
The SEC will also need to demonstrate that market growth translates into wider participation and more effective financing for the productive economy.
For businesses and investors, the next important measure will be how the master plan and National Savings Scheme move from announcement to implementation.
