The Securities and Exchange Commission (SEC) is set to advance a new phase of Nigeria’s capital-market development with the Nigeria Capital Market Master Plan 2.0, a 10-year framework covering 2026 to 2036 and targeting market growth to ₦750 trillion.
The initiative is scheduled to feature at the SEC’s 2026 National Capital Market Conference in Abuja on Monday, where the regulator is also expected to present a National Savings Scheme as part of efforts to encourage broader participation in the investment market.
Reports published ahead of the conference indicate that the master plan is designed to expand the capital market’s contribution to economic growth, improve investment opportunities and strengthen its role in financing businesses and infrastructure.
The ₦750 trillion target represents an ambitious expansion objective. Achieving it will require more than rising share prices and market valuations; it will depend on bringing additional credible issuers to the market, attracting domestic savings and broadening the range of investable assets.
Nigeria’s capital market provides companies and governments with avenues to raise long-term financing through equities, bonds and other regulated instruments. A deeper market can reduce excessive dependence on bank lending and provide investors with additional options for deploying their savings.
However, market expansion must be supported by stronger corporate governance, transparent financial reporting and effective enforcement of securities regulations. Without these safeguards, higher valuations and increased participation may not translate into sustainable economic benefits.
The SEC has previously highlighted the importance of increasing the number of credible issuers. A shortage of investment-ready companies can concentrate market activity in a small number of stocks and limit the ability of the market to finance a wider range of productive businesses.
The proposed National Savings Scheme is also relevant to efforts to encourage households and other domestic investors to participate in formal investment channels. Its practical impact will depend on the final structure, eligibility requirements, investor protections and ease of access.
For businesses, a more developed capital market could improve access to equity financing, corporate bonds and other funding instruments. This may be particularly valuable for companies seeking to finance expansion without placing excessive pressure on their balance sheets through borrowing.
For retail investors, market development could create more opportunities to diversify portfolios, although investors will still need to understand the risks associated with individual securities and investment products.
The conference also provides an opportunity for regulators, market operators, issuers and investors to examine the reforms required to achieve the plan’s objectives.
The SEC will need to balance market expansion with strong supervision, particularly as digital investment platforms and new financial products create additional opportunities and risks.
The success of the 2026–2036 framework will ultimately be measured by whether it produces a more accessible, liquid and transparent market that channels savings into productive investment.
