Agama Calls for Unified Front to Unlock Nigeria’s Investment Potential
By Patience Ikpeme
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called for a comprehensive partnership among financial system stakeholders to harness the nation’s investment opportunities for sustainable national growth.
Speaking at the Emerging Africa Capital Limited Investor Summit & Awards, held under the theme “Deploying and Mobilizing Capital and Investment Strategies in a Shifting Global Economy,” Dr. Agama noted that while recent commission-led reforms are producing positive outcomes, a collective push is essential to establish Nigeria as a premier global investment destination.
The SEC Director-General addressed the complexities of current global macroeconomic uncertainties, acknowledging that while some markets currently attract investors seeking rapid returns, Nigeria offers superior long-term advantages due to its vast, untapped potential. He stated that the Nigerian capital market has shown notable resilience against economic headwinds. This stability is supported by regulatory advancements such as electronic offerings, a deeper bond market, the growth of alternative investment platforms, and a commitment to sustainable finance principles.
Despite these achievements, Dr. Agama observed that the market’s full capacity to drive Nigeria’s development remains partially dormant. He pointed out that market capitalization relative to GDP still trails behind peer economies, retail participation remains limited, and the derivatives market is only in its beginning stages. To convert this potential into tangible economic gains, he argued that the responsibility must be shared across the board.
“The strength of the capital market lies in stakeholders playing their roles with integrity, competence, and long-term orientation,” Dr. Agama said, noting that regulators, exchanges, and investors cannot build the market in isolation.
He advised domestic corporate entities to view the capital market as their primary route for financing growth. To achieve this, he suggested that companies must focus on improving governance, enhancing disclosure standards, and strengthening investor relations to attract institutional capital.
“The market rewards quality, and the companies that invest in quality today will access capital on terms that compound their competitive advantage,” Dr. Agama remarked.
The Director-General also turned his attention to domestic institutional investors, including pension fund administrators and insurance companies. He urged these bodies to increase their involvement with local market instruments and to refine their analytical capabilities to invest across various asset classes, describing Nigeria’s savings pool as a resource of immense strategic importance.
In a message to foreign investors and development finance institutions, the SEC head gave assurances that Nigeria is open for business. He stated that the commission is dedicated to maintaining a regulatory environment that is transparent, principles-based, and consistent with international best practices.
Furthermore, Dr. Agama reached out to leadership at the Central Bank of Nigeria (CBN), the Debt Management Office (DMO), the National Insurance Commission (NAICOM), and the National Pension Commission (PenCom). He requested a deepening of inter-agency cooperation to harmonize policies and present a unified, welcoming front to global investors, noting that market sophistication depends on the coherence of these various regulatory frameworks.
Reflecting on the historical role of capital in societal advancement, Dr. Agama concluded by placing Nigeria’s current economic position in a global context.
“The nations and peoples that have built great economies have done so not simply because they were endowed with resources, but because they developed the institutions, the instruments, and the discipline to channel those resources toward their highest and most productive uses,” he said.
He warned that the country is at a critical juncture where the global economy is shifting in ways that present both risks and opportunities. According to Dr. Agama, the choices made by the financial community over the next three to five years will dictate whether Nigeria successfully captures the benefits of this period or allows the opportunity to slip away.
