FG Urges Capital Market Operators to Drive $1tr Economy Vision
By Patience Ikpeme
The Federal Government has called on capital market operators to step up efforts to build investor confidence, expand financial literacy, and prepare for the rollout of the Investment and Securities Act (ISA) 2025 and a new Capital Market Master Plan (CMMP 2030), as part of a broader push to grow the Nigerian economy to $1 trillion within the next decade.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, delivered this charge on Monday at the first Capital Market Committee (CMC) meeting for 2025. The event, held at the Federal Palace Hotel in Victoria Island, Lagos, was hosted by the Securities and Exchange Commission (SEC). The Minister was represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite.
According to Edun, Nigeria’s capital market must assume a central role in driving long-term financing across key sectors such as infrastructure, housing, manufacturing, technology, and energy.
He said the reforms introduced by the current administration — including the removal of fuel subsidies, unification of foreign exchange windows, and a tightened fiscal framework — have laid the groundwork for private capital to play a leading role in economic growth.
“This vision is overdue. Nigeria had the potential to reach this milestone 20 years ago,” Edun said. “With the reforms we’ve undertaken, the foundation is now set for private capital to power growth.”
He described the recent enactment of the ISA 2025 as a transformative legal framework that aligns Nigeria’s capital market regulation with global best practices and strengthens investor protection.
However, the Minister cautioned that reforms must go beyond legislation. He pointed to the need for practical mechanisms that allow both foreign and domestic investors to seamlessly enter and exit the market.
“The real question we must ask is: If a billion-dollar investment enters this market, do we have the structure for it to exit smoothly? Until we can answer that, we can’t claim the market is truly ready,” he said.
To that end, Edun urged capital market stakeholders to adopt a comprehensive approach that includes wealth creation, financial inclusion, and the establishment of a Market Literacy Fund to support investor education under the SEC’s open-door policy.
“We’ve done the reforms. The time has come to implement. Let us build a rule-based, resilient market that unlocks growth for all Nigerians,” he concluded.
In his remarks, the Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama, commended the government for enacting ISA 2025 and outlined SEC’s immediate priorities, which include enhancing investor protection, promoting digital innovation, and strengthening capital mobilisation.
He reported a strong performance across market segments in 2024, noting that the NGX All-Share Index rose by 37.65%, while market capitalisation exceeded N62 trillion. The debt market recorded turnover of N460.55 trillion.
Dr. Agama also confirmed that the SEC is collaborating with other institutions to streamline recapitalisation processes, broaden small and medium enterprise (SME) access to funding, and implement digital solutions that improve market transparency and efficiency.
The SEC DG reiterated the Commission’s commitment to implementing ISA 2025, rolling out CMMP 2030, and supporting Nigeria’s removal from the Financial Action Task Force (FATF) grey list by enhancing anti-money laundering and counter-financing of terrorism (AML/CFT) frameworks.
The 2025 CMC meeting convened a diverse group of stakeholders across Nigeria’s financial ecosystem. Attendees included representatives from the Nigerian Exchange (NGX), NASD, FMDQ, AFEX, CSCS, LCFE, NG Clearing, PCX, and GCMX, as well as key public institutions such as the Central Bank of Nigeria (CBN), Debt Management Office (DMO), Federal Inland Revenue Service (FIRS), and the Ministry of Industry, Trade and Investment.
The meeting also featured the official launch of the SEC’s revamped corporate website and the ISA 2025 Handbook, signalling a renewed commitment to transparency, efficiency, and innovation.
