The Chartered Institute of Stockbrokers has appealed to the Federal Government to urgently implement economic reforms that will reposition Nigeria’s capital market as a key driver in achieving the country’s $1 trillion economy target.
The call was made after a one-day workshop held at the State House Conference Centre, Aso Rock, Abuja. The event was themed “Capital Formation in Nigeria: Empowering Industry, Institutions, and Markets to Drive a $1tn Economy”.
In a statement jointly signed by its President and Chairman of Council, Oluropo Dada, and Registrar and Chief Executive, Ayorinde Adeonipekun, the Institute emphasised that deliberate and coordinated actions are needed to deepen capital formation across all sectors of the Nigerian economy.
The Institute urged the Federal Government to lead strategic coordination among stakeholders in the market and harmonise fiscal, trade, and monetary policies. According to CIS, such alignment will boost investor confidence and attract long-term capital, which is essential to growing the economy.
The communique from the workshop highlighted that foreign direct investment inflows into Nigeria remain unstable due to challenges such as currency risks, regulatory unpredictability, and infrastructure gaps. It also noted that domestic capital mobilisation through pensions, insurance, and retail investors is still underutilised for industrial financing.
CIS stressed that integrating Nigeria’s large informal sector into the formal economy could unlock significant domestic capital and expand the tax base. The Institute described the informal sector as an untapped pool of savings and investment potential that could play a major role in supporting economic growth if properly structured.
Another key recommendation from the workshop was the development of financial instruments targeted at diaspora savings and remittances. CIS explained that Nigerians abroad remit billions of dollars annually, and structured investment channels could help redirect some of these funds into critical sectors of the economy.
The Institute also proposed a national savings strategy that would encourage citizens to invest their savings in productive sectors rather than leaving them idle. According to the Institute, this could help drive industrial growth and infrastructure development.
On infrastructure, CIS advised that public-private partnerships should be prioritised in order to reduce the financial burden on the government. It said private sector involvement will not only mobilise more funds but also improve efficiency and delivery in major projects.
CIS further called on capital market regulators to take advantage of the upcoming Investments and Securities Act (ISA) 2025 to strengthen corporate governance, enhance disclosures, and improve dispute resolution mechanisms in the market. This, the Institute said, would help build trust among investors and attract more participation in the capital market.
The Institute also encouraged market operators to innovate and scale diverse financial products that will appeal to different categories of investors, including millennials, Gen Z, and the younger Gen Alpha. Suggested products include real estate investment trusts, venture capital schemes, and long-term infrastructure funds.
According to CIS, Nigeria’s ability to meet its $1 trillion economy target depends largely on the performance of the capital market as a platform for mobilising long-term funds. The Institute noted that without reforms and improved coordination, the country may continue to struggle with capital inflows, weak investor confidence, and limited funding for industries.
The workshop brought together stakeholders from government, regulatory agencies, and the private sector, who all agreed on the need for urgent reforms. Participants also identified the importance of aligning Nigeria’s financial systems with global best practices to attract both local and foreign investors.
CIS concluded that Nigeria’s capital market must evolve beyond its current limitations and play a more active role in financing industries, infrastructure, and innovation. It urged the Federal Government to act fast, stressing that a well-positioned capital market could become the engine that drives Nigeria to its $1 trillion economic goal.
