The Federal Government has reiterated its commitment to leveraging Nigeria’s capital market as a central pillar in achieving its ambitious target of a $1 trillion economy by 2030.
Speaking at the 2025 First Capital Market Committee (CMC) Meeting organized by the Securities and Exchange Commission (SEC) in Lagos, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called for increased market resilience, deeper investor trust, and broader financial literacy.
Delivering his address through the Minister of State for Finance, Dr. Doris Uzoka-Anite, Edun emphasized that the capital market must take center stage in financing critical sectors such as infrastructure, housing, manufacturing, technology, and energy, which are essential to unlocking Nigeria’s long-term growth potential.
“This vision is long overdue. Nigeria had the potential to become a trillion-dollar economy two decades ago,” Edun stated. “With the economic reforms already underway—including fuel subsidy removal, foreign exchange (FX) harmonization, and fiscal tightening—we now have the structural foundation to enable private capital to drive our economic transformation.”
Capital Market Central to Economic Transformation
Edun urged capital market operators to move beyond the traditional focus on fundraising and instead position the market as a dynamic engine for wealth creation, financial inclusion, and national development.
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He also stressed the urgent need to prepare for the full implementation of the newly passed Investment and Securities Act (ISA) 2025, alongside the rollout of the new Capital Market Master Plan (CMMP 2030).
A key theme in Edun’s remarks was the necessity of creating robust frameworks for capital absorption and exit. He warned that attracting significant foreign and domestic investment will be futile if investors cannot exit the market efficiently.
“If a billion-dollar investment enters this market, do we have the structure for it to exit smoothly?” he asked. “Until we can confidently answer that question, we cannot claim the market is truly ready to support transformative growth.”
He further proposed the creation of a Market Literacy Fund, aimed at supporting the SEC’s initiatives to broaden financial literacy and strengthen investor confidence across all strata of society. This, he noted, is crucial to building a rules-based, transparent market environment.
“We’ve done the reforms. The time has come for implementation. Let us build a resilient, rules-based market that delivers real prosperity for all Nigerians,” Edun concluded.
Despite the Federal Government’s optimism, the World Bank has raised concerns about the feasibility of reaching the $1 trillion economy milestone by 2030.
In its latest Nigeria Development Update (NDU) report titled “Building Momentum for Inclusive Growth,” the global lender noted that Nigeria’s current economic growth rate is insufficient to meet this ambitious target.
The World Bank estimated that for Nigeria to attain a $1 trillion GDP within the projected time frame, the country’s growth rate would need to accelerate by as much as five times its current pace.
Analysts argue that while Nigeria’s reform agenda has created a more enabling macroeconomic environment, sustained implementation and market confidence will be key to attracting long-term capital.
The coming months will be critical in determining whether the country can convert policy reforms into tangible economic outcomes and realize its trillion-dollar vision.