The Federal Government has set a target of increasing retail investors in Nigeria’s capital market from six million to 20 million and expanding the number of listed companies from 146 to 250 by 2036.
The Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, disclosed this at the National Capital Market Conference 2026 in Abuja, according to a statement by the Securities and Exchange Commission.
Oyedele said the government also aimed to increase equity market capitalisation from 33 per cent to at least 60 per cent of Gross Domestic Product and grow the capital market to one trillion dollars within the next decade.
He explained that the government would introduce incentives to encourage private businesses to list on the Nigerian Exchange rather than compel them to do so.
The minister also proposed expanding corporate bond issuance and the sukuk market, while increasing pension assets from six per cent to 16 per cent of GDP.
He identified the potential listing of the Nigerian National Petroleum Company Limited and Nigeria LNG Limited as opportunities to deepen the market, improve transparency and broaden public ownership of national assets.
Oyedele added that Nigeria was targeting an investment-grade credit rating within three years and an upgrade from frontier-market to emerging-market status.
He disclosed that equity market capitalisation had risen from less than 30 trillion naira in mid-2023 to approximately 160 trillion naira, while pension assets had reached 27.5 trillion naira.
The minister also launched the National Savings Scheme to encourage Nigerians to invest in regulated financial products through accessible platforms, including mobile phones.
He expressed concern over the involvement of young Nigerians in betting, unregulated cryptocurrency schemes and Ponzi schemes, instead of regulated investment opportunities. He said the government would strengthen surveillance of fraudulent investment schemes and introduce measures to support victims.
Meanwhile, Vice President Kashim Shettima unveiled the Nigerian Capital Market Master Plan 2026–2036, describing the capital market as central to financing infrastructure and economic development.
The Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, said market growth had not translated into sufficient participation by Nigerians. He added that implementation committees would be established to monitor the plan.
Similarly, Chairman of the Senate Committee on Capital Market, Osita Izunaso, called for the listing of NNPC and major telecommunications companies. He also urged regulators to accelerate digital asset regulations and ensure the master plan delivers measurable results.
