The Federal Government has stated that Nigeria’s capital market plays a pivotal role in its drive to achieving a $1 trillion economy by 2030.
Speaking on Monday, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, urged capital market operators in Nigeria to deepen investor confidence, improve financial literacy, and prepare for the implementation of the Investment and Securities Act (ISA) 2025 and a new Capital Market Master Plan (CMMP 2030).
Edun made the call at the 2025 First Capital Market Committee (CMC) Meeting hosted by the Securities and Exchange Commission (SEC) in Lagos.
Key Takeaways from the Minister’s Speech
Represented by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, Edun emphasized the strategic role of Nigeria’s capital market in achieving the Federal Government’s ambition of transitioning into a $1 trillion economy within the next decade.
He stressed that the capital market must become the primary engine for mobilizing long-term finance across critical sectors such as infrastructure, housing, manufacturing, technology, and energy.
“This vision is overdue. Nigeria had the potential to reach this milestone 20 years ago,” he declared.
“With the reforms we’ve undertaken, including fuel subsidy removal, FX harmonization, and tightening of the fiscal framework, the foundation is now set for private capital to power growth.”
Importance of Robust Frameworks for Capital Absorption and Exit Pathways
The Minister highlighted the challenges of capital absorption and exit pathways, stressing the need for robust frameworks to ensure that foreign and domestic capital can not only be attracted but also exited seamlessly.
“The real question we must ask is: If a billion-dollar investment enters this market, do we have the structure for it to exit smoothly? Until we can answer that, we can’t claim the market is truly ready.”
Call to Action for Market Participants
Edun called on market participants to go beyond capital raising and position the market as a genuine tool for wealth creation and inclusive development.
He also advocated for the establishment of a Market Literacy Fund that is committed to supporting the SEC’s open-door policy.
“We’ve done the reforms. The time has come to implement. Let us build a rule-based, resilient market that unlocks growth for all Nigerians,” he emphasized.
What you should know
However, the World Bank has cautioned that Nigeria’s current economic growth rate may be too slow to meet the federal government’s ambitious target of transforming the country into a $1 trillion economy by 2023.
- This was disclosed in its latest Nigeria Development Update (NDU) report titled “Building Momentum for Inclusive Growth”.
- According to the Bretton Woods institution, achieving this economic milestone will require a significant ramp-up in the country’s growth trajectory, by as much as fivefold.
