BusinessDay reported Oct. 22 that Nigeria’s securities-industry groups backed a 10-year push to grow the capital market to ₦750 trillion, a goal regulators say supports a $1 trillion economy by 2030.
The outlet based its account on a joint congratulatory message signed by Chartered Institute of Stockbrokers (CIS) President Fiona Ahimie and Association of Securities Dealing Houses of Nigeria (ASHON) Chairman Sehinde Adenagbe. BusinessDay said the groups praised recent reforms and supported the expansion goal.
Securities and Exchange Commission (SEC) Director-General Emomotimi Agama wrote that the 2026–2036 master plan aims to grow the market from a ₦250 trillion baseline to ₦750 trillion. He linked the plan to Nigeria’s ambition to build a $1 trillion economy by 2030. His article does not identify the target as listed-equity capitalization, so the sources do not establish that it is directly comparable with stock-market figures.
FSD Africa, which supported the plan’s development, said Nigeria launched the master plan and a National Savings Scheme on Oct. 19. In FSD Africa’s launch announcement, Agama called savings “the raw material of investment.”
Nigerian Exchange Group said that, as of Oct. 16, the All-Share Index had risen 59.07% year to date, equities market capitalization was ₦160.73 trillion and turnover stood at ₦7.82 trillion. Nigerian Exchange Group Plc (NGX Group) said Nigeria adopted next-day T+1 settlement on June 1, becoming the first African market to do so.
FTSE Russell’s Oct. 6 review records Nigeria’s return to Frontier classification, effective Sept. 21. The index provider had moved the country from Frontier to Unclassified status in 2023 after investors reported difficulty obtaining foreign currency and transferring proceeds abroad.
BusinessDay reported that CIS and ASHON expect the savings scheme to encourage retail participation and channel more domestic funds toward productive investment. The groups also identified investor protection, technology and public awareness as priorities. FSD Africa said the previous plan completed 63% of its activities overall, with further work needed on financial inclusion, regional links, sustainable finance and financing priority sectors.
The capital-market debate has also included Finance Minister Taiwo Oyedele’s call for public listings of NNPC Ltd. and Nigeria LNG Limited, covered in EconoTimes’ report on proposed listings of the two companies. Dangote Petroleum Refinery and Petrochemicals’ public offer is scheduled to close Oct. 27, according to the company’s official site.
