The Securities and Exchange Commission (SEC) has unveiled a National Savings Scheme designed to assist Nigerians throughout completely different earnings teams save and make investments by the capital market.
SEC Director-General Dr. Emomotimi Agama introduced the initiative on the National Capital Market Conference in Abuja, alongside the Nigerian Capital Market Master Plan (NCMMP) 2.0 for 2026 to 2036.
The scheme, which has authorized backing underneath the Investments and Securities Act 2025, will goal merchants, farmers, younger graduates and different teams, with investments managed by skilled fund managers registered with the Commission.
SEC targets wider funding participation
Agama stated the National Savings Scheme was designed to tackle the hole between the expansion in Nigeria’s capital market and the variety of Nigerians collaborating in it. He famous that rising market valuations had not translated into sufficiently broad possession of monetary belongings.
The SEC chief described the scheme as an vital instrument for monetary inclusion, notably for Nigerians who’ve restricted participation within the capital market.
- “Our market is growing in value. It is not yet growing deep enough in people. The National Savings Scheme is, first and foremost, an instrument of inclusion.”
According to Agama, the scheme will join family financial savings to productive investments, with SEC-registered skilled fund managers chargeable for managing the funds.
- He disclosed {that a} memorandum of understanding involving the SEC, the Nigeria Revenue Service and FSD Africa would assist the initiative by proposed tax incentives for savers.
- The Commission additionally plans to set up a Project Steering Committee and an Implementation Committee to oversee supply underneath the brand new capital market roadmap.
Agama stated the implementation course of would come with clear obligations, timelines and efficiency measures to be sure that the scheme and different initiatives produce measurable outcomes.
Market rally exposes participation hole
The National Savings Scheme comes after a interval of sturdy efficiency in Nigeria’s equities market. Agama stated market capitalisation crossed N100 trillion for the primary time in January 2026 earlier than reaching one other report above N150 trillion in September.
He added that the NGX All-Share Index had gained roughly 60% in 2026, following a 51% return in 2025.
- Nigeria returned to FTSE Russell’s Frontier Market classification on September 21, 2026, after being excluded from the index since September 2023.
The NCMMP 2.0 follows the Revised Capital Market Master Plan 2015–2025, which was launched in November 2022.
- Senate Committee on Capital Market Chairman Osita Izunaso stated Nigeria had greater than 5 million registered firms however solely about 151 listed corporations.
- Izunaso known as for extra listings, notably NNPC Limited and main telecommunications firms, to broaden funding alternatives for Nigerians.
- The senator additionally urged the SEC to accelerate regulations covering digital assets and tokenisation.
- The push for added listings comes as NNPC considers a possible public providing, though the corporate stated on September 29 that no date had been fastened and the ultimate choice rested with shareholders.
- Nairametrics additionally reported in October that the nationwide oil firm was addressing governance and monetary reporting gaps recognized by its advisers forward of a possible itemizing.
The developments spotlight efforts to enhance each the variety of traders collaborating within the market and the availability of firms out there for funding.
Savings Scheme faces implementation take a look at
The National Capital Market Master Plan 2.0 targets an growth of Nigeria’s capital market from roughly N250 trillion to N750 trillion by 2036. Achieving that purpose would require broader retail possession, extra listed firms and deeper financing alternatives.
- Agama has additionally warned that rising investor participation with out increasing the availability of credible funding alternatives might push up present asset costs moderately than assist real market improvement.
- Nairametrics had earlier reported Agama’s warning in regards to the scarcity of credible issuers in Nigeria’s capital market.
- The market can also be focusing on 30 million traders by 2030, in accordance to the SEC chief.
- The proposed National Savings Scheme is meant to convey extra Nigerians into funding merchandise managed by SEC-registered professionals.
- Additional firm listings, deeper bond markets and stronger institutional participation are anticipated to assist the broader capital market growth agenda.
Agama stated the Commission would observe implementation of the grasp plan by publicly reported efficiency measures.
- “Every commitment in NCMMP 2.0 will have an owner, a timeline and a scorecard, and we will report progress openly to this nation.”
The scheme’s success will depend upon investor safety, credible disclosures, efficient regulation and constant financial insurance policies.
Beyond rising market capitalisation, the problem can be guaranteeing that extra households can take part in funding alternatives whereas companies acquire entry to long-term financing for productive actions.
