Nigeria's Capital Market Value Hits N123.93 Trillion

The Securities and Exchange Commission (SEC) reported that Nigeria's capital market value surged by 125%, reaching N123.93 trillion. This growth significantly contributed to the nation's gross domestic product (GDP), which rose by 13% to 33%.

Emomotimi Agama, the SEC Director, disclosed these figures during an address at the inauguration of the Capital Market Work Group in Lagos. He emphasized that the growth reflects substantial and sustainable reforms that have improved market liquidity.

Agama noted that while the market's size is impressive, it does not guarantee long-term strength, as liquidity is crucial for allowing investors to buy and sell shares without affecting prices. He also pointed out that high transaction costs and the concentration of trades among a few highly capitalized stocks limit market depth.

The SEC aims to implement initiatives to engage ordinary Nigerians in the capital market.