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The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reiterated the strategic role of Nigeria’s capital market in realising the federal government’s target of growing the economy to $1 trillion.
Speaking at the Capital Market Committee (CMC) meeting on Monday, Edun—represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite—highlighted the sector’s significant transformation since 2015. He noted improvements in governance structures, the introduction of innovative products and platforms, a more robust regulatory framework, and increasing investor participation.
Edun credited the ongoing implementation of the Capital Market Master Plan (2015–2025) as a key driver of this transformation, stating that the plan has enhanced the market’s contribution to national development, bolstered competitiveness, and helped cultivate a more sophisticated market architecture.
The revised strategy under the master plan, he said, focuses on key pillars such as digitalisation, innovation, sustainability, financial inclusion, and capital formation—components aligned with the broader national economic reform agenda.
The minister further pointed to the passage of the new Investment and Securities Act (ISA) 2025 as a significant step forward, modernising the capital market’s legal and regulatory framework. The new Act, he noted, streamlines enforcement, provides regulatory clarity on emerging instruments such as digital assets and crowdfunding, and strengthens investor protection.
He affirmed that the government remains committed to fostering a business environment that enables private-sector innovation to thrive, within a framework of transparency, fairness, and accountability.
“The capital market is expected not just to facilitate capital raising but also to serve as a mechanism for wealth creation, economic inclusion, and long-term national resilience,” Edun stated.
He also acknowledged recent regulatory strides made by the Securities and Exchange Commission (SEC), including its membership in the Growth and Emerging Markets Committee (GEMC) of the International Organization of Securities Commissions (IOSCO), and its support for the International Sustainability Standards Board (ISSB) implementation. These, he said, have contributed to Nigeria recording its fastest GDP growth in over a decade in 2024—driven by a strong Q4 performance and an improved fiscal outlook.
In his address, the Director-General of the SEC, Dr. Emomotimi Agama, described the enactment of the ISA 2025 as a pivotal milestone, heralding a transformative era for the Nigerian capital market.
Agama reaffirmed the SEC’s commitment to deepening stakeholder engagement, ensuring widespread understanding of the new legal framework, and fostering innovation and compliance. He emphasised the need to restore investor confidence, address grievances promptly, and broaden citizen participation in capital market activities.
To that end, the SEC has established a dedicated implementation team to review the ISA 2025 in detail and a sensitisation team tasked with enhancing public awareness. A podcast series has also been launched to simplify key provisions of the Act and make it more accessible to the general public.
Agama also reported strong market performance in 2024, with the NGX All-Share Index appreciating by 37.65% and market capitalisation surging by 53.39%. He highlighted ongoing efforts to improve regulatory efficiency, promote market integrity, and safeguard investors.
Stressing the importance of financial inclusion, the SEC chief noted initiatives aimed at empowering women, youth, and rural communities. He also underscored the commission’s focus on tech-driven solutions, such as an electronic survey designed to track emerging technology adoption across the capital market ecosystem.
He concluded by reaffirming the SEC’s dedication to advancing growth, transparency, and sustainability, expressing optimism about the outcomes of the CMC meeting.
A key highlight of the gathering was the official unveiling of the Investment and Securities Act 2025 by the Minister.
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