The Securities and Exchange Commission has emphasised the need for policy support to drive Nigeria’s $1tn economy, citing the role of the capital market in facilitating sustainable economic growth.
The Director-General of the Securities and Exchange Commission, Emomotimi Agama, made this observation during the SEC Journalists Academy held in Lagos on Tuesday.
Agama added that achieving this economic target demands a concerted effort from various stakeholders, particularly policymakers and businesses.
“The journey demands collective effort from policymakers ensuring an enabling environment, to businesses leveraging market opportunities, and, importantly, to journalists who communicate the market’s value to the broader public,” Agama said.
He stressed that while the Nigerian capital market has proven instrumental in supporting economic development through innovative financing solutions, several challenges continue to hinder its full potential. These include limited investor participation, regulatory bottlenecks, and macroeconomic uncertainties.
Also, the Chief Executive Officer of Arthur Steven Asset Management Limited, Olatunde Amolegbe, stressed that achieving economic diversification and industrialisation will remain difficult without the right policy interventions to support the capital market.
“Nigeria must enhance the capital market to improve funding for businesses, attract foreign investment, and promote financial inclusion.
These are the cornerstones for driving industrial growth and positioning Nigeria on the path to a $1tn economy,” Amolegbe said.
He noted that targeted investments in infrastructure, technology, and innovation will unlock new opportunities across key sectors like agriculture, manufacturing, and services.
“Infrastructure development, particularly in energy, transport, and urban systems, will boost connectivity, cut costs for businesses, and drive industrial growth. This cannot be done without mobilising capital through the market,” Amolegbe added.
Also speaking, the Chief Executive Officer of Marble Capital Limited, Akeem Oyewale, emphasised the importance of engaging the youth demographic to deepen capital market participation. He noted that fintech solutions and social media platforms are crucial tools for financial literacy and inclusion.
“Nigeria has a young, tech-savvy population with high internet penetration. We must leverage digital platforms to promote financial education, simplify access to investments, and attract young investors,” Oyewale said.
He highlighted barriers such as a lack of trust, low financial education, and economic challenges that prevent many young Nigerians from participating in the market.
“Reducing these barriers through policy incentives, fintech solutions, and awareness campaigns will go a long way in democratising wealth creation,” he stated.