- Masterplan targets $56bn in investment funds, $10bn in annual diaspora inflows, fivefold increase in corporate bonds
The Federal Government has unveiled a 10-year capital market masterplan and a National Savings Scheme aimed at mobilising domestic and foreign investments, strengthening financial markets and supporting Nigeria’s ambition to build a $1 trillion economy by 2030.
The Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, sets out a comprehensive reform agenda to expand investment opportunities, improve market efficiency and transparency, and position Nigeria as a leading financial hub in Africa.
The initiatives were launched in Abuja on Monday by Vice-President Kashim Shettima, alongside the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele; the British High Commissioner to Nigeria, Peter Vowles, represented by Paul Healey; and the Chief Executive Officer of FSD Africa, Mark Napier.
Developed by the Securities and Exchange Commission (SEC), with technical support from FSD Africa funded by the United Kingdom Government, the masterplan seeks to channel long-term capital into critical sectors, including infrastructure, energy, small and medium-sized enterprises (SMEs), climate resilience, financial inclusion and job creation.
The roadmap establishes ambitious targets for the next decade, including a tenfold increase in assets under management in collective investment schemes, from $5.6 billion to $56 billion.
It also seeks to increase annual diaspora investments channelled through the capital market from $4 billion to $10 billion, while raising the proportion of institutional investment portfolios allocated to non-sovereign assets from approximately 40 per cent to 50 per cent.
Under the plan, the number of corporate bonds is expected to rise fivefold, from 100 to 500, while cross-border listings are projected to increase from five to 40 by 2036.
Speaking at the launch, SEC Director-General, Dr Emomotimi Agama, said the masterplan was designed to deepen Nigeria’s capital market and expand its capacity 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 the simultaneous launch of the masterplan and the National Savings Scheme reflected the government’s determination to mobilise domestic savings and direct them towards productive economic activities.
“ 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 SEC expects the reforms to broaden participation in the market by making it easier for businesses and state governments to raise funds, attracting more foreign institutional investors, encouraging retail and diaspora participation, and expanding the range of financial instruments available to investors.
The proposed reforms also include measures to strengthen sustainable finance, support the development of digital and tokenised assets, improve regulatory clarity and enforcement, and modernise market infrastructure.
The masterplan is structured around five strategic pillars: regulatory clarity and enforcement; modernisation of market infrastructure; expansion of issuers and financial instruments; diversification of the investor base; and strengthening institutional and professional capacity.
Each pillar has a phased implementation framework, with clearly defined responsibilities, timelines and performance indicators to monitor progress over the 10-year period.
According to the SEC, the new roadmap builds on the previous Capital Market Masterplan, which recorded an overall activity completion rate of 63 per cent.
Although the earlier programme facilitated significant reforms, financial inclusion, regional market integration, sustainable finance and capital mobilisation for priority sectors were identified as areas requiring further attention.
Representing the British High Commissioner, 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 technical support for the development of the masterplan.
He described the initiative as a Nigerian-led reform programme designed to mobilise domestic and international investment and connect available capital with viable commercial opportunities in businesses and infrastructure.
“Our support forms part of the wider UK and Nigeria’s Strategic Partnership, which has growth and jobs at its heart. 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,” he said.
Napier said the masterplan presented an opportunity to channel more domestic and international capital into businesses, infrastructure and sustainable economic growth.
“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,” he said.
He cited FSD Africa’s interventions in Zambia and Ethiopia, where support for financial market development and efforts to address regulatory and market constraints had helped create conditions for greater capital mobilisation, including investment in renewable energy.
FSD Africa’s engagement with Nigeria has focused on strengthening the links between capital market development and broader economic priorities, particularly infrastructure financing, SME growth, financial inclusion and sustainable development.
Beyond domestic investment, the masterplan seeks to strengthen Nigeria’s position in African financial markets through increased cooperation with other countries, cross-border fundraising and listing arrangements, and closer alignment with initiatives under the African Continental Free Trade Area.
The Federal Government expects a deeper and more diversified capital market to provide businesses with alternatives to conventional bank lending, give investors access to a broader range of assets and mobilise funding for projects capable of generating employment and accelerating economic expansion.
The National Savings Scheme is expected to complement these efforts by encouraging savings and creating additional channels through which domestic resources can be converted into productive investments.
However, the success of the 2026–2036 masterplan will depend on effective implementation, sustained investor confidence, regulatory consistency and the ability of market participants to translate the proposed reforms into actual investment flows and measurable economic outcomes.
With its ambitious targets for investment funds, diaspora capital, corporate bonds and cross-border listings, the masterplan represents a significant effort to strengthen Nigeria’s capital market as a key instrument for financing long-term economic growth.
