The Securities and Exchange Commission (SEC) has highlighted the capital market’s critical role in driving Nigeria toward a $1 trillion economy by 2030, aligning with the Tinubu administration’s economic vision.
Speaking at the SEC Journalists Academy in Lagos, Dr. Emomotimi Agama, SEC Director General, emphasized the market’s capacity to channel resources into productive ventures. “The capital market is the financial backbone of our economy, and with the right policies and investor confidence, it can finance critical projects and foster national growth,” he said, represented by Mr. John Abel Briggs, Head of the Lagos Office.
Agama cited the success of innovative instruments like Sukuk bonds, which have funded road projects nationwide, and green bonds supporting low-carbon infrastructure. The market also facilitates private sector growth, with companies like MTN Nigeria and Dangote Cement leveraging it for expansion and job creation.
The NGX’s total market capitalization has grown to N60 trillion as of December 2024, demonstrating robust private sector participation. The rise of retail bonds and fintech platforms has further democratized investment opportunities, fostering financial inclusion.
Dr. Akeem Oyewale of Marble Capital Limited highlighted the need for diversification, infrastructure investment, and tech adoption to attract youth to the market, while Arthur Stephens’ MD, Olatunde Amolegbe, noted the NGX All-Share Index’s 31.34% growth this year, driven by strong corporate earnings.
Despite these successes, challenges such as regulatory hurdles and macroeconomic uncertainties persist. SEC’s ongoing efforts to enhance market liquidity, simplify listing processes, and drive innovation aim to unlock the market’s full potential, positioning it as a key enabler of Nigeria’s economic aspirations.
