The Securities and Exchange Commission has set an ambitious target of expanding Nigeria’s capital market to ₦750 trillion by 2036 as part of a new ten-year development plan.
The initiative was presented by SEC Director-General Emomotimi Agama at the 2026 National Capital Market Conference in Abuja. According to TheCable, the plan aims to increase market participation, broaden the range of investment products and strengthen the infrastructure supporting financial markets.
The commission also announced a national savings scheme intended to provide Nigerians with a formal channel through which to save and invest.
Expanding the capital market
A capital market enables governments and businesses to raise longer-term funding through instruments such as shares and bonds. Investors provide funds in exchange for ownership interests, interest payments or other returns, depending on the investment.
A deeper capital market can give businesses alternatives to bank loans and help finance projects that require substantial investment.
The SEC’s plan aims to increase the market’s reported value from a baseline of approximately ₦250 trillion to ₦750 trillion over the next decade.
However, market capitalisation is influenced by share prices, new listings, fundraising activity and broader investor sentiment. An increase in market value does not automatically mean that businesses have raised an equivalent amount of new money or that all investors have made profits.
National savings scheme
The proposed national savings scheme is intended to encourage Nigerians to participate more actively in formal savings and investment.
According to TheCable, the SEC said the initiative would provide a channel through which people could save and have their funds invested for the future. The scheme is expected to operate through professional fund managers registered with the commission under established governance arrangements.
The initiative could help introduce more people to investment products and encourage a longer-term approach to saving.
Nevertheless, investors will need clear information about eligibility, fees, withdrawal conditions, investment risks and any applicable tax incentives before committing their money.
Why participation matters
A capital market can grow substantially in value while participation remains concentrated among a relatively small group of investors.
Broadening access could allow more households to participate in the formal economy and provide businesses with a wider pool of potential investors.
For small businesses, however, accessing capital markets may remain difficult because listing requirements, compliance costs and reporting obligations can be demanding. Appropriate financial products and effective investor education will therefore be important.
Regulatory oversight and investor protection
The SEC will need to ensure that market expansion is accompanied by effective supervision and enforcement.
Investor confidence depends on reliable disclosures, fair trading practices, transparent pricing and action against fraud and market manipulation.
The commission’s plan also emphasises the importance of strengthening market infrastructure and improving the range of products available to investors.
The SEC’s ₦750 trillion target represents a long-term ambition to deepen Nigeria’s financial markets. Its success will depend not only on market valuation but also on broader participation, credible regulation and the ability of businesses to use the market to obtain productive long-term financing.
