Nigeria’s Capital Market Surges 125% to ₦123.93 Trillion – SEC Highlights Growth Momentum

Nigeria’s capital market has recorded a remarkable expansion, with total market capitalisation rising by 125 percent — from approximately ₦55 trillion in April 2024 to over ₦123.93 trillion.

The milestone was disclosed by the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, during his inaugural address to members of the Capital Market Working Group on Market Liquidity in Lagos.

Capital Market Contribution to GDP Strengthens

Beyond market capitalisation growth, the SEC revealed that the Nigerian capital market’s contribution to Gross Domestic Product (GDP) has climbed significantly within the same period — increasing from 13 percent to 33 percent.

According to Agama, the figures reflect renewed investor confidence, improved regulatory oversight, and strengthening market fundamentals.

“Since this administration came into being in April 2024, we have seen market capitalisation grow from about ₦55 trillion to over ₦123.93 trillion. Our contribution to GDP has moved from 13 percent to 33 percent. These are impressive figures, but they tell only part of the story,” he stated.

Market Liquidity and Reforms Remain Critical

While describing the growth trajectory as encouraging, the SEC boss emphasised that sustaining momentum will require continued reforms, deeper market liquidity, and enhanced investor participation.

He noted that although the increase in capital market value demonstrates resilience amid economic headwinds, long-term stability will depend on structural improvements rather than size alone.

Industry analysts say improved liquidity frameworks, stronger regulatory compliance, and increased domestic and foreign investor engagement will be essential in consolidating these gains.

Outlook for Nigeria’s Capital Market

The surge in market capitalisation underscores the evolving strength of Nigeria’s financial markets and highlights the growing role of the capital market in national economic development.

As policymakers and regulators continue to prioritise transparency, liquidity enhancement, and investor protection, stakeholders expect Nigeria’s capital market to remain a key driver of economic transformation and sustainable growth.

For market participants, the message is clear: growth has accelerated — but sustaining it will require strategic reforms and disciplined oversight.