Lagos: Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), announced that the revised Capital Market Master Plan will closely align with Nigeria’s National Development Plan. Speaking at the Capital Market Committee meeting held in Lagos on Monday, Agama highlighted that this alignment is integral to Nigeria’s ambition of becoming a $1 trillion economy.
According to News Agency of Nigeria, Agama elaborated that the plan will guide market direction from 2026 to 2030, with the possibility of extending it to 2035 if necessary. He emphasized that instead of creating entirely new master plans, updates will be made to reflect evolving economic realities. ‘The goal is to position the capital market as a central driver of national development,’ Agama stated, underscoring SEC’s intention for the capital market to feature prominently in national economic discussions.
Agama outlined that the defined direction for 2026 to 2030 allows for plan adjustments if changes occur within this period. He posed a critical question: ‘How does the capital market become a springboard into national economic development? That is the vision we set for ourselves.’ He asserted that national progress is challenging if policymakers neglect to involve the market, emphasizing the necessity of the capital market’s role in national development.
He also stressed the importance of active participation and practical solutions from all stakeholders, urging them to focus on daily interventions to improve infrastructure such as ports, roads, railways, health, and education. Agama noted that consistent and collective action could lead to substantial progress quickly.
Acknowledging support from FSD Africa and the Nigerian Capital Development Fund, Agama expressed gratitude for their consultancy in the plan review process. He added that stakeholders will participate in sensitisation sessions to ensure strategies are realistic and contextually aligned with Nigeria’s economy. An external steering committee will provide strategic leadership, monitor progress, and ensure accountability during the implementation phase.
Agama mentioned that working groups will concentrate on areas such as commodities, the digital economy, liquidity, listings, and sustainability. He encouraged individuals not included in these groups to volunteer, describing it as a national service. SEC will ensure multi-stakeholder participation, including regulators, market operators, development partners, and experts. Performance will be a criterion for continued participation in these groups, as members unable to deliver on tasks will not be retained.
He also invited additional suggestions, including the potential creation of private equity groups to ensure robust market representation, stating that ‘The objective is to build a living document that evolves with market realities and drives Nigeria’s capital market transformation.’