The Federal Government has unveiled a 10-year plan to expand Nigeria’s capital market from about N250 trillion to N750 trillion by 2036, while calling for the listing of selected state-owned enterprises, including the Nigerian National Petroleum Company Limited (NNPC) and Nigeria LNG Limited (NLNG), on the Nigerian Exchange.
Vice President Kashim Shettima disclosed this while unveiling the Nigerian Capital Market Master Plan 2.0 at the National Capital Market Conference 2026 in Abuja on Monday.
Shettima described the capital market as a vital instrument for mobilising long-term financing for infrastructure and economic development.
He attributed the market’s growth since the President Bola Tinubu administration assumed office in May 2023 to reforms including petrol subsidy removal, foreign exchange market unification, tax reforms, bank recapitalisation and the enactment of the Investments and Securities Act 2025.
He said the plan would strengthen infrastructure financing, expand state and subnational bond markets, encourage retail investment through technology and investor education, and enable businesses to raise funds locally.
The Vice President, who chairs the National Economic Council, pledged to work with state governors to promote responsible capital market financing through properly structured bonds, credible projects and greater transparency.
Meanwhile, the Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, called for a more ambitious target of a one-trillion-dollar capital market within 10 years, in line with Nigeria’s ambition of building a one-trillion-dollar economy by 2030.
Oyedele also urged the government to accelerate plans to list selected state-owned enterprises, particularly NNPC and NLNG, saying the move could deepen the market, improve transparency and broaden public ownership of national assets.
