The Nigerian government has underscored the vital role of the capital market in achieving its ambitious goal of a $1 trillion economy by 2030. Speaking at the 2025 First Capital Market Committee (CMC) Meeting hosted by the Securities and Exchange Commission (SEC), Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasized that building investor confidence, improving financial literacy, and preparing for new regulatory frameworks are essential steps in this journey. Edun, represented by Minister of State for Finance Dr. Doris Uzoka-Anite, said the new Investment and Securities Act (ISA 2025) and the Capital Market Master Plan (CMMP 2030) will be instrumental.
The minister stressed that Nigeria’s capital market must serve as a primary engine for mobilizing long-term investments in key sectors such as infrastructure, housing, manufacturing, technology, and energy. According to him, Nigeria could have achieved this $1 trillion milestone two decades ago, but reforms like fuel subsidy removal, FX harmonization, and a tightened fiscal framework have now laid the groundwork for substantial private sector-led growth.
A key challenge identified by Edun is the ability of the capital market to handle capital inflows and outflows efficiently. He noted that while attracting investment is crucial, the country must also develop robust mechanisms that ensure capital can exit the market smoothly. Without such systems in place, the market cannot be considered fully prepared for large-scale investment.
Edun called on stakeholders in the financial ecosystem to move beyond basic fundraising activities and instead focus on using the capital market as a tool for wealth creation and inclusive development. He also proposed the creation of a Market Literacy Fund to support financial education initiatives and further reinforce the SEC’s commitment to transparency and inclusiveness in the sector.
Despite these optimistic projections, the World Bank has issued a cautionary note, stating that Nigeria’s current economic growth rate is too slow to meet the 2030 target. In its latest Nigeria Development Update (NDU), the institution argued that Nigeria would need to increase its growth rate by at least fivefold to achieve the $1 trillion economy mark, highlighting the significant work still required to reach this ambitious goal.
Source: Nairametric