Nigeria has unveiled a 10-year capital market roadmap aimed at mobilising domestic and foreign investment, expanding private-sector access to financing and supporting its ambition to build a $1tn economy by 2030.
The Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, was launched alongside a National Savings Plan in Abuja on Monday. The initiatives are designed to deepen the country’s financial markets, channel savings into productive investments and strengthen Nigeria’s position as a regional financial hub.
The details were contained in a statement by the Securities and Exchange Commission Nigeria. It outlined the masterplan’s targets and proposed reforms, developed with technical support from FSD Africa and funding from the United Kingdom Government.
Under the roadmap, Africa’s most populous nation aims to increase collective investment scheme assets under management from $5.6bn to $56bn over the next decade, representing a tenfold increase. It also targets an increase in annual diaspora investment channelled into capital markets from $4bn to $10bn and a rise in the proportion of institutional investment portfolios allocated to non-sovereign assets from about 40 per cent to 50 per cent.
The plan further seeks to increase corporate bonds from 100 to 500 and cross-border listings from five to 40 over the period.
Speaking at the launch, the Director-General of the SEC, Dr Emomotimi Agama, described the masterplan as a framework for expanding the capital market to the scale required to finance Nigeria’s economic ambitions.
“Every great economy has, at its heart, a capital market that turns the savings of ordinary people into the factories, roads, homes and businesses that create jobs. Nigeria has the people, the enterprise and the ambition. What we are now building is a market to match them,” Agama stated.
He explained that the decision to launch the masterplan alongside the National Savings Plan was intended to strengthen the connection between domestic savings and investment, reducing the country’s dependence on external sources of capital.
“Savings are the raw material of investment, and a nation that saves through its own capital market builds with its own resources,” the SEC director-general added.
The initiatives are intended to direct more long-term financing towards infrastructure, energy, small and medium-sized enterprises, climate resilience, financial inclusion and job creation.
To achieve these objectives, the masterplan proposes reforms to make it easier for businesses and state governments to raise funds through the capital market, broaden participation by retail and diaspora investors, attract more foreign institutional investors and expand sustainable finance.
It also provides for the development of digital and tokenised assets, alongside measures to improve market regulation, infrastructure and institutional capacity.
The roadmap is organised around five pillars covering regulatory clarity and enforcement, modernisation of market infrastructure, expansion of issuers and financial instruments, diversification of the investor base, and strengthening of institutional and professional capacity. Each pillar is supported by an implementation framework setting out responsibilities, timelines and performance measures.
The masterplan builds on an earlier capital market development programme that recorded an overall activity completion rate of 63 per cent. While the previous plan supported several reforms, financial inclusion, regional integration, sustainable finance and the mobilisation of capital towards priority sectors were identified as areas requiring further progress.
The new roadmap also seeks to strengthen Nigeria’s position within Africa’s financial system through closer cooperation with other markets, cross-border fundraising and listing arrangements, and alignment with initiatives under the African Continental Free Trade Area.