Finance Minister Wale Edun has emphasised the crucial role of the capital market in achieving the nation’s goal of becoming a $1 trillion economy.

Speaking at the Capital Market Committee (CMC) meeting, the minister highlighted the market’s transformation since 2015.

He said that with improvements in governance structures, new products and platforms, a stronger regulatory environment, and growing investor participation, the capital market can deliver Nigeria’s proposed $1 trillion economy.

Mr Edun, represented by the Minister of State for Finance, Doris Uzoka-Anite, said the implementation of the Capital Market Master Plan (2015-2025) had been instrumental in increasing the market’s contribution to the national economy, developing a sophisticated market structure, and improving competitiveness.

The minister said the revised plan prioritises digitalisation, innovation, sustainability, inclusion, and capital formation, aligning with the broader economic reform agenda.

He said the passage of the new act modernises the legal and regulatory framework, streamlines enforcement mechanisms, and provides clarity on emerging areas such as digital assets and crowdfunding.

On the challenges and opportunities inherent in the act, the minister said it would help deepen market participation and ensure regulatory coordination remains tight.

The minister noted that the government is committed to creating an enabling environment for private sector innovation to flourish within a fair and transparent environment.

He explained that with the SEC undertaking regulatory reforms, including joining the GBMC Network of IOSCO in promoting and implementing ISSB Standards, the domestic economy recorded the fastest GDP growth in about a decade in 2024, driven by a strong fourth quarter and improved fiscal position.

The director-general of the SEC, Emomotimi Agama, emphasised the commission’s commitment to regulatory reforms and capital market growth.

According to him, enacting the Investment and Securities Act (ISA) 2025 marks the beginning of a transformative new era for the capital market.

Mr Agama highlighted the commission’s efforts to deepen stakeholder engagement, ensure widespread dissemination and understanding of the new law, and drive innovation and compliance.

He also emphasised the importance of restoring investor confidence, bringing timely relief to aggrieved investors, and creating a platform for broad-based participation of Nigerians in wealth creation.

Mr Agama said a podcast series had also been launched to simplify the ISA 2025 and make it accessible to all Nigerians.

He highlighted the Nigerian capital market’s impressive performance in 2024, with the NGX All-Share Index increasing by 37.65 per cent and market capitalisation growing by 53.39 per cent.

Mr Agama emphasised the commission’s commitment to fostering growth, transparency, and sustainability in the capital market and looked forward to fruitful deliberations at the meeting.

(NAN)