Yesterday, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, emphasized the capital market’s vital importance in reaching the country’s ambitious target of becoming a $1 trillion economy.
During the meeting of the Capital Market Committee (CMC), Edun—represented by Dr. Doris Uzoka-Anite, Minister of State for Finance—emphasized the market’s evolution since 2015, noting enhancements in governance structures, the introduction of new products and platforms, a bolstered regulatory environment, and increased investor involvement.
The minister stated that the execution of the Capital Market Master Plan (2015-2025) has played a key role in enhancing the market’s contribution to the national economy, developing an advanced market structure, and boosting competitiveness
According to Edun, the updated plan gives priority to digitalisation, innovation, sustainability, inclusion, and capital formation, in line with the wider economic reform agenda.
He stated that the new Act’s enactment brings the legal and regulatory framework up to date, simplifies enforcement mechanisms, and clarifies emerging fields like crowdfunding and digital assets.
Regarding the challenges and opportunities inherent in the Act, the minister stated that it will aid in deepening market participation and ensuring tight regulatory coordination.
Odun remarked on the government’s dedication to fostering an environment conducive to private sector innovation, emphasizing that this commitment involves ensuring fairness and transparency.
The minister noted that the market is anticipated to contribute to the economy by serving not just as a means for raising capital, but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience.
He elaborated that, due to regulatory reforms by the Securities and Exchange Commission (SEC)—such as joining the GBMC Network of IOSCO to promote and implement ISSB Standards—the domestic economy experienced its fastest GDP growth in nearly ten years in 2024, fueled by a robust fourth quarter and enhanced fiscal conditions.
Dr Emomotimi Agama, the DG SEC, underscored the commission’s dedication to regulatory reforms and the development of the capital market earlier in his address.
He claims that the implementation of the Investment and Securities Act (ISA) 2025 signifies the start of a transformative new era for the capital market.
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