Senate Advocates Capital Market Reforms for Growth

Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market and Institutions, advocated for legislative reforms to strengthen Nigeria's capital market as a key driver of economic growth and infrastructure financing. In his inaugural fellowship lecture titled “Legislative Leadership and Capital Market Development in Nigeria: Strengthening the Legal Framework for Economic Transformation,” he stated that the long-term success of the capital market relies on a robust legal framework established by the National Assembly.

He described the Investments and Securities Act (ISA) 2025 as a significant update to Nigeria's capital market legislation in nearly two decades, enhancing investor protection and aligning with global best practices. Izunaso noted the capital market's importance for mobilizing investments, particularly in infrastructure, amidst fiscal constraints.

He identified challenges such as low retail investor participation, macroeconomic instability, and cybersecurity risks that require ongoing legislative attention to foster a more efficient capital market.