Abuja: The Minister of Finance, Mr. Wale Edun, has emphasised the crucial role of the capital market in achieving Nigeria’s ambitious goal of becoming a one-trillion dollar economy. Speaking at the Capital Market Committee (CMC) meeting, the minister highlighted the market’s transformation since 2015.
According to News Agency of Nigeria, the minister noted that improvements in governance structures, new products and platforms, a stronger regulatory environment, and growing investor participation have positioned the capital market as a key driver in delivering Nigeria’s proposed one trillion dollar economy. Edun was represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, at the meeting.
The implementation of the Capital Market Master Plan (2015-2025) has been instrumental in increasing the market’s contribution to the national economy, developing a sophisticated market structure, and improving competitiveness, Edun remarked. The revised plan prioritises digitalisation, innovation, sustainability, inclusion, and capital formation, aligning with the broader economic reform agenda.
The new act modernises the legal and regulatory framework, streamlines enforcement mechanisms, and provides clarity on emerging areas such as digital assets and crowdfunding. The minister believes that the act will deepen market participation and ensure tight regulatory coordination.
The government is committed to creating an enabling environment for private sector innovation to flourish within a fair and transparent environment, Edun stated. The capital market is expected to contribute to the economy, serving not only for capital raising but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience.
With the Securities and Exchange Commission (SEC) undertaking regulatory reforms, including joining the GBMC Network of IOSCO in promoting and implementing ISSB Standards, the domestic economy recorded impressive GDP growth in 2024, driven by a strong fourth quarter and improved fiscal position.
Earlier in his speech, the Director-General of SEC, Dr. Emomotimi Agama, emphasised the Commission’s commitment to regulatory reforms and capital market growth. He highlighted the enactment of the Investment and Securities Act (ISA) 2025 as a transformative era for the capital market.
Agama noted the Commission’s efforts to enhance regulatory efficiency, promote market integrity, and protect investors. He also emphasised the importance of financial inclusion and investor education, citing initiatives aimed at empowering women, youth, and grassroots communities.
The highlight of the CMC meeting was the unveiling of the ISA Act 2025 by the minister, marking a significant step towards fostering growth, transparency, and sustainability in the Nigerian capital market.