The initiative aims to widen investment participation, mobilise idle savings and provide Nigerians with a formal channel to build wealth as the regulator seeks to deepen the capital market over the next decade……
The Securities and Exchange Commission (SEC) has unveiled a national savings scheme to encourage Nigerians to save and invest, as it targets an expansion of the country’s capital market from about N250 trillion to N750 trillion by 2036.
The SEC Director-General, Emomotimi Agama, announced the initiative on Monday at the 2026 National Capital Market Conference in Abuja, where he presented the Nigerian Capital Market Master Plan (NCMMP) 2026–2036.
He said the plan is designed to strengthen the capital market’s role in financing economic growth and supporting President Bola Tinubu’s ambition of building a $1 trillion economy.
“It rests on three convictions: that our market must be broader in participation, richer in products, and stronger in its integrity and infrastructure,” Agama said.
The SEC chief noted that despite the market’s increasing value, participation among Nigerians remains limited, leaving much of the country’s savings outside the formal financial system.
“Too few Nigerians own a share, a bond or a unit in a collective investment scheme. Too much of our savings sits idle, outside the formal system, quietly eroded by inflation,” he said.
“And too many of our enterprises, our infrastructure projects and our states still look abroad, or to the banks alone, for capital that ought to be raised from Nigerians, for Nigeria.”
Agama said the proposed National Savings Scheme would provide a structured and accessible platform for Nigerians to save money and have their funds invested to generate long-term returns.
“The National Savings Scheme is, first and foremost, an instrument of inclusion,” he said.
“It gives every Nigerian, the trader in Onitsha, the farmer in Benue, the young graduate in Yenagoa, a simple and trusted way to save, and to have those savings invested for the future.”
He explained that the scheme is backed by the Investments and Securities Act 2025, with funds to be managed by professional fund managers registered with the commission under established governance arrangements.
The SEC is also expected to sign a memorandum of understanding with the Nigeria Revenue Service and FSD Africa to support the initiative, including the introduction of tax incentives to encourage savings and investment.
Agama disclosed that the scheme was originally proposed under the capital market master plan but has now moved into the implementation stage.
The SEC director-general said the new master plan was developed following consultations with market operators, issuers, investors, regulators and government institutions to ensure that its targets reflect the needs of the market.
He announced that Vice-President Kashim Shettima would inaugurate the Project Steering Committee and the Capital Market Master Plan Implementation Committee (CAMMIC) at the conference.
Agama said the committees would oversee the execution of the plan, with specific responsibilities, timelines and performance indicators assigned to each commitment.
“Every commitment in NCMMP 2.0 will have an owner, a timeline and a scorecard, and we will report progress openly to this nation,” he said.
Highlighting recent market performance, Agama said equity market capitalisation crossed N100 trillion for the first time in January before setting new records above N160 trillion in September.
He added that the All-Share Index had gained approximately 60 per cent in 2026, following a 51 per cent return in 2025.
The SEC chief also pointed to Nigeria’s reinstatement in the FTSE Russell Frontier Market Index on September 21, ending nearly three years outside the international benchmark.
He attributed the market’s performance to the Federal Government’s economic reforms, including the unification of exchange rates, removal of petrol subsidies and the introduction of tax reforms.
“These gains did not come by chance. They are the fruit of the courageous choices of His Excellency, President Bola Ahmed Tinubu, GCFR: a unified exchange rate, the end of fuel subsidy, and the most far-reaching tax reform in our history,” Agama said.
“They are also the fruit of the Investments and Securities Act 2025, which gave this Commission modern tools to regulate a modern market.”
He reiterated that the commission would monitor implementation of the master plan through clearly defined targets and publicly reported progress, as it seeks to expand investment opportunities, strengthen market confidence and make the capital market a more significant source of funding for Nigeria’s economy.
