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Nigeria launches Capital Market Masterplan 2.0, National Savings Plan to drive $1tn economy – EnviroNews
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Nigeria has launched a 10-year capital market development roadmap and a national savings plan aimed at mobilising domestic and international investment to support its ambition of building a $1 trillion economy by 2030.
The Nigeria Capital Market Masterplan 2.0 (NCMMP 2.0), covering 2026 to 2036, is designed to create a more diversified, efficient and transparent capital market while strengthening the country’s position as a regional financial hub.
The plans were launched by Vice-President Kashim Shettima alongside the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele; the United Kingdom High Commissioner to Nigeria, Peter Vowles; and the Chief Executive Officer of FSD Africa, Mark Napier.
The Securities and Exchange Commission (SEC) Nigeria developed the masterplan with technical support from FSD Africa, funded by the UK Government. The support enabled a consortium led by Genesis Analytics and Bourse Consult to develop the roadmap and its implementation framework.
Speaking at the launch, SEC Director-General, Dr Emomotimi Agama, said the masterplan would help deepen Nigeria’s capital markets to the scale required to finance the country’s economic ambitions.
“Every great economy has, at its heart, a capital market that turns the savings of ordinary people into the factories, roads, homes and businesses that create jobs. Nigeria has the people, the enterprise and the ambition. What we are now building is a market to match them,” Agama said.
He explained that launching the masterplan alongside the National Savings Scheme was a deliberate effort to align economic reforms with measures to mobilise domestic resources for development.
“Savings are the raw material of investment, and a nation that saves through its own capital market builds with its own resources,” he added.
The British High Commissioner, Peter Vowles, represented at the event by Paul Healey, Head of Green Growth and Private Sector Development at the British High Commission, said the UK was proud to have funded FSD Africa’s support for the development of the masterplan.
According to him, the Nigerian-led reform is expected to attract more domestic and international investment and connect capital with commercial opportunities in businesses and infrastructure.
He said the initiative forms part of the wider UK-Nigeria Strategic Partnership, which prioritises economic growth and job creation.
“By strengthening Nigeria’s capital markets and deepening links between our financial sectors, we can create new opportunities for investment, jobs and shared prosperity in both our countries,” Healey said on behalf of the High Commissioner.
FSD Africa CEO, Mark Napier, described the masterplan as an important framework for advancing Nigeria’s capital market development, economic growth and employment generation.
“Our support for Nigeria’s new Masterplan is grounded in the principle that capital markets need to work for the wider economy. With its scale and regional importance, Nigeria has a significant opportunity to mobilise more domestic and international capital towards businesses, infrastructure and sustainable growth,” Napier said.
He cited FSD Africa’s work in Zambia and Ethiopia, where efforts to strengthen financial market structures and address regulatory and market constraints had helped lay the foundations for greater capital mobilisation, including investment in renewable energy.
FSD Africa’s support for Nigeria focuses on strengthening the connection between capital market development and national economic priorities, including infrastructure, small and medium-sized enterprises (SMEs), financial inclusion and sustainable development.
The NCMMP 2.0 seeks to make capital markets a major driver of economic transformation by directing long-term funding towards infrastructure, energy, climate resilience, SMEs, financial inclusion and job creation.
Five pillars of reform
The masterplan is organised around five pillars: improving regulatory clarity and enforcement; modernising market infrastructure; broadening the range of issuers and financial instruments; diversifying the investor base; and strengthening institutional and professional capacity.
Each pillar is supported by a phased implementation framework with designated responsibilities, timelines and performance measures.
Proposed reforms include making it easier for businesses and state governments to raise capital, expanding participation by retail and diaspora investors, attracting more foreign institutional investors, strengthening sustainable finance and supporting the development of digital and tokenised assets.
The roadmap also seeks to strengthen Nigeria’s role in regional finance through closer cooperation with other African markets, cross-border capital raising and listing frameworks, and greater alignment with initiatives under the African Continental Free Trade Area.
Building on previous reforms
The new masterplan builds on the earlier Nigeria Capital Market Masterplan, which supported several reforms but left areas requiring further progress.
The previous plan recorded an overall activity completion rate of 63%, with financial inclusion, regional integration, sustainable finance and mobilisation of capital for priority sectors identified as areas needing continued attention.
NCMMP 2.0 is intended to address these gaps while expanding the market’s capacity to channel long-term domestic and foreign investment into productive sectors of the economy.
The simultaneous launch of the masterplan and national savings plan highlights the government’s stated intention to link domestic savings with investment opportunities, strengthen capital formation and support Nigeria’s broader economic development objectives.