FG targets $1trn economy with innovation, capital market reforms

By Chinwendu Obienyi

The federal government has reaffirmed its commitment to building a $1 trillion economy by harnessing private sector innovation and implementing far-reaching reforms in the capital market.

Speaking at the Capital Market Committee (CMC) meeting in Abuja on Monday, Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, said the government is focused on fostering a fair, transparent, and investor-friendly ecosystem for businesses to thrive.

Edun, who was represented at the meeting by the Minister of State for Finance, Dr. Doris Uzoka-Anite, noted that ongoing reforms and strategic initiatives have positioned the market as a cornerstone of national economic development.

He cited the implementation of the Capital Market Master Plan (2015–2025) as instrumental in enhancing governance structures, expanding product offerings, improving competitiveness, and increasing investor participation.

“The revised master plan emphasizes digitization, innovation, sustainability, inclusion, and capital formation, aligning seamlessly with the government’s broader economic reform agenda,” Edun stated.

A key milestone in this trajectory is the passage of the Investment and Securities Act (ISA) 2025, which the Minister described as a “game-changer” for Nigeria’s capital market.

The new Act modernizes the legal and regulatory framework, streamlines enforcement, and brings clarity to emerging sectors such as digital assets and crowdfunding.

Edun highlighted the capital market’s evolving role, not just as a platform for raising capital but also as a vital tool for wealth creation, inclusive growth, and long-term national resilience.

He added that Nigeria recorded its fastest GDP growth in nearly a decade in 2024, driven by a robust fourth quarter and an improved fiscal position.

This, he said, is a direct result of regulatory reforms championed by the Securities and Exchange Commission (SEC), including its membership in the GBMC Network of the International Organization of Securities Commissions (IOSCO) and its adoption of ISSB sustainability standards.

In his remarks, Director-General of the SEC, Dr. Emomotimi Agama, described the enactment of ISA 2025 as the beginning of a transformative era for Nigeria’s capital market.

He reiterated the Commission’s dedication to regulatory reforms, innovation, and enhanced stakeholder engagement.

“We are committed to restoring investor confidence, ensuring timely redress for aggrieved investors, and expanding broad-based participation among Nigerians,” Agama said.

He also stressed the Commission’s focus on driving compliance, boosting transparency, and building a capital market that is globally competitive and inclusive.

With the stage set for far-reaching reforms, stakeholders are optimistic that the capital market will play a pivotal role in unlocking Nigeria’s economic potential and attracting sustainable investment flows.