Nigeria Unveils New Capital Market Strategy to Support $1 Trillion Economy Target
Nigeria has unveiled a 10-year capital market development strategy alongside a National Savings Plan to attract more investment, expand financial market activities and support its target of building a $1 trillion economy by 2030.
The Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, was launched in Abuja on October 19, 2026. The initiative was developed by the Securities and Exchange Commission (SEC) Nigeria, with technical support from FSD Africa and funding from the UK Government.
Vice President Kashim Shettima led the launch alongside Finance Minister Taiwo Oyedele, representatives of the British High Commission, FSD Africa and other stakeholders.
The new framework is designed to increase the availability of long-term funding for businesses, infrastructure and other sectors critical to Nigeria’s economic development.
Under the plan, assets managed by collective investment schemes are expected to rise from $5.6 billion to $56 billion within 10 years. Annual diaspora investments through the capital market are also projected to increase from $4 billion to $10 billion.
Other targets include increasing institutional investments in non-sovereign assets from about 40 per cent to 50 per cent, growing the number of corporate bonds from 100 to 500, and expanding cross-border listings from five to 40.
Speaking at the event, SEC Director-General Emomotimi Agama said the initiative would help build a stronger financial market capable of funding the country’s economic priorities.
He explained that capital markets play an important role in transforming savings into investments that support business expansion, infrastructure projects and employment.
Agama added that introducing the National Savings Plan alongside the masterplan was intended to encourage domestic savings and channel more locally generated funds into productive economic activities.
The UK Government, through its support for FSD Africa, contributed to the development of the roadmap. The British High Commission noted that the reforms could strengthen investment flows, create jobs and deepen economic ties between Nigeria and the United Kingdom.
FSD Africa Chief Executive Officer Mark Napier said the strategy could help direct greater volumes of domestic and foreign capital towards Nigerian businesses, infrastructure and sustainable development.
The masterplan identifies key investment priorities, including energy, infrastructure, small and medium-sized enterprises, climate resilience, financial inclusion and job creation.
Planned reforms include making it easier for businesses and state governments to raise funds, widening access for individual and diaspora investors, attracting more foreign institutional investors and supporting sustainable finance. The framework also proposes exploring digital and tokenised financial assets.
Implementation will focus on five areas: strengthening regulation and enforcement, upgrading market infrastructure, expanding investment products and issuers, broadening the investor base, and improving professional and institutional capacity.
The new strategy builds on an earlier capital market development plan that recorded a 63 per cent completion rate across its activities. Financial inclusion, regional market integration, sustainable finance and investment in priority sectors remain areas requiring additional progress.
Nigeria also intends to strengthen its position as a regional financial hub by encouraging cross-border listings, improving cooperation with other African markets and aligning capital market development with the African Continental Free Trade Area.
The two initiatives are expected to strengthen investment mobilisation, increase participation in financial markets and improve access to funding for projects that support Nigeria’s long-term economic growth.
