Senate Proposes N10bn Special Fund for Investor Education in 2025 Budget
By Patience Ikpeme
The Senate has proposed a N10 billion special fund for investor education in the capital market as part of the 2025 budget. This initiative, according to the Senate, aims to raise awareness among Nigerians about investment opportunities and attract more participants to the market.
Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, made this announcement during the Securities and Exchange Commission’s (SEC) budget defense session in Abuja. Addressing the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Izunaso emphasized the capital market’s crucial role in achieving the President’s $1 trillion economy target and the need to broaden participation.
“The capital market is doing well, but we need to do better to attract more investors,” Izunaso stated. “At present, participation is low, and I don’t think it is right. Also, the number of companies listed on the exchange is low compared to the companies that operate in this country.”
He stressed the importance of financial literacy initiatives, saying, “I believe we require special funds to finance literacy in the capital market. We need to do more to take our capital market to where it is supposed to be.”
Izunaso confirmed that the Senate will formally request the inclusion of a N10 billion special fund for capital market literacy in the 2025 budget. “You are going to get our letter to include a N10 billion special funding of capital market literacy in the 2025 budget,” he told the Minister. “This will aid investor education and make our capital market blossom.”
The Senate Committee Chairman commended Minister Edun for his support in repositioning the capital market, acknowledging the market’s vital role in economic development. He assured that the Senate will continue to support the capital market to ensure it reaches its full potential, emphasizing that investor confidence is key to a thriving market.
“On our part, we are doing what we can to provide support to ensure that this market performs its role efficiently in the economy,” Izunaso said. He cited the recently passed Investment and Securities Act (ISA) amendment bill, currently awaiting presidential assent, as evidence of the Senate’s commitment to the capital market.
Minister Edun acknowledged the more stable and conducive investment environment created by President Tinubu’s economic policies. He noted the positive start of the stock market this year, which he sees as a sign of investor confidence and resilience. “There are ways in which the government can encourage more participation and savings through the stock market,” Edun stated, adding that “the Nigerian economy has savings that can be invested,” including pension funds.
The Minister commended the National Assembly, regulators, participants, and others for their support of the capital market. “We have a lot of basis for optimism, a lot to be encouraged about and a lot to build on,” he said. “The capital market will be a major driver of economic growth and development.”
