SEC launches National Savings Scheme to expand Nigeria's capital market to N750trn

Nigeria's financial regulator has launched a National Savings Scheme to redirect household savings into professionally managed investment portfolios operating within the capital market. The Securities and Exchange Commission presented this initiative at the National Capital Market Conference convened in Abuja on Monday, positioning it as a key element of its broader financial sector expansion strategy.

Founded on the Investments and Securities Act 2025, the scheme will operate under fund managers holding SEC registration. Its scope encompasses multiple demographic groups, including traders, farmers, and recent graduates, thereby broadening capital market engagement beyond traditional investor bases.

Through redirecting retail savings away from idle cash into regulated investment vehicles, this program fills a substantial participation void in the market. The Nigerian Capital Market Master Plan for 2026 through 2036, also unveiled by the SEC at this gathering, incorporates the National Savings Scheme as a central component.

This ten-year strategic framework anticipates market capitalisation expanding from approximately N250 trillion currently to N750 trillion in 2036. Finance Minister Taiwo Oyedele and Vice President Kashim Shettima both participated in the event, underscoring that the capital market represents a vital mechanism for policymakers financing infrastructure and supporting sustained economic progress.

According to the SEC, the scheme will diminish dependence on conventional bank lending and external financing sources by channeling domestically accumulated savings toward domestic investment channels. SEC Director-General Emomotimi Agama emphasized that the initiative rests on existing legal foundations, noting that it operates under regulatory safeguards designed to protect participant interests and ensure qualified management of deposited funds.