Nigeria Launches 10-Year Capital Market Plan for Growth

On October 19, Nigeria unveiled the Nigeria Capital Market Masterplan 2.0, a 10-year roadmap designed to mobilize domestic and foreign investment to support the country's goal of achieving a $1 trillion economy by 2030. The initiative was launched in Abuja by Vice President Kashim Shettima, alongside Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, British High Commissioner to Nigeria Peter Vowles, and FSD Africa Chief Executive Officer Mark Napier.

Developed by the Securities and Exchange Commission (SEC) with technical support from FSD Africa, funded by the UK Government, the masterplan aims to enhance the diversity, transparency, and efficiency of Nigeria's capital market. Key targets include increasing collective investment scheme assets from $5.6 billion to $56 billion, raising annual diaspora investment from $4 billion to $10 billion, expanding corporate bonds from 100 to 500, and increasing cross-border listings from five to 40.

SEC Director-General Dr Emomotimi Agama stated that the plan would deepen the capital market and mobilize domestic resources for Nigeria's economic ambitions.