The Minister of Finance, Mr. Wale Edun, has said Nigeria’s capital market will play a major role in helping the country achieve its goal of becoming a one-trillion-dollar economy. Edun made this statement during the Capital Market Committee (CMC) meeting held recently, where he praised the progress and reforms made in the capital market since 2015.
Mr. Edun, who was represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, said the capital market has transformed significantly in recent years. He said improvements in governance, stronger regulation, the introduction of new products and digital platforms, and increased investor participation have positioned the market as a critical driver of Nigeria’s economic future.
He said, “The capital market is now stronger, more inclusive, and better prepared to support the country’s journey to a one-trillion-dollar economy.”
Edun pointed out that the implementation of the Capital Market Master Plan (2015–2025) had been key to these improvements. The plan, he said, has boosted the market’s contribution to the national economy, made the system more efficient, and raised Nigeria’s global competitiveness.
He also noted that the revised version of the master plan focuses on modern trends like digitalisation, innovation, sustainability, and financial inclusion. These align with the Federal Government’s broader economic reforms aimed at encouraging private sector growth and attracting long-term investments.
The minister highlighted the new law passed by the National Assembly, which updates Nigeria’s capital market legal framework. He said the new act provides better guidelines for modern financial instruments, such as digital assets and crowdfunding. It also makes enforcement of financial regulations easier and ensures proper coordination between different regulatory agencies.
Speaking further, Edun said that the government remains committed to making Nigeria a good place for private businesses to grow. He said the capital market is not only useful for raising money but also for creating jobs, encouraging investment, and increasing wealth among Nigerians.
He added that with support from the Securities and Exchange Commission (SEC), the country is already seeing positive signs. In 2024, Nigeria experienced its fastest GDP growth in almost ten years, especially in the fourth quarter. This growth was partly due to regulatory reforms in the capital market and improved fiscal policies.
He said the SEC had also taken steps to align with international financial standards. The commission joined the GBMC Network of the International Organization of Securities Commissions (IOSCO) and is promoting the ISSB Standards for transparency and sustainability reporting in capital markets.
Market analysts believe that as Nigeria strengthens its capital market, more investors—both local and foreign—will be encouraged to participate. This will lead to more job creation, improved access to funding for businesses, and better economic outcomes for Nigerians.
The finance minister urged all stakeholders in the financial sector to continue supporting reforms and to work towards a stable and transparent investment environment.
