The Securities and Exchange Commission (SEC) has unveiled a National Savings Scheme designed to assist Nigerians throughout totally different revenue teams save and make investments by means of 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 mentioned the National Savings Scheme was designed to handle the hole between the expansion in Nigeria’s capital market and the variety of Nigerians taking part in it. He famous that rising market valuations had not translated into sufficiently broad possession of economic belongings.
The SEC chief described the scheme as an necessary 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 accountable for managing the funds.
- He disclosed {that a} memorandum of understanding involving the SEC, the Nigeria Revenue Service and FSD Africa would help the initiative by means of 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 mentioned the implementation course of would come with clear tasks, 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 robust efficiency in Nigeria’s equities market. Agama mentioned market capitalisation crossed N100 trillion for the primary time in January 2026 earlier than reaching one other document 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 mentioned 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 develop 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 mentioned on September 29 that no date had been fastened and the ultimate determination 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 buyers taking part 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 current asset costs relatively than help 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 buyers 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 help the broader capital market growth agenda.
Agama mentioned the Commission would observe implementation of the grasp plan by means of 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 will probably be guaranteeing that extra households can take part in funding alternatives whereas companies acquire entry to long-term financing for productive actions.
