Nigeria has launched a new 10-year Capital Market Masterplan aimed at attracting domestic and international investment, deepening financial markets and supporting the country's ambition to build a $1 trillion economy by 2030.

The Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, sets out reforms to expand access to capital, diversify financial instruments and strengthen the country's position as a regional financial hub.

The roadmap was launched at the Presidential Villa in Abuja by Vice President Kashim Shettima, alongside Finance Minister Taiwo Oyedele and representatives of FSD Africa and the UK government. A National Savings Scheme was also launched.

Developed by Nigeria's Securities and Exchange Commission (SEC), the Masterplan received technical support from FSD Africa, funded by the UK government. The support included the engagement of a consortium led by Genesis Analytics and Bourse Consult to develop the roadmap and its implementation framework.

The plan seeks to channel long-term investment towards infrastructure, energy, climate resilience, small and medium-sized enterprises (SMEs) and other sectors considered priorities for economic growth.

Proposed reforms include measures to make it easier for businesses and state governments to raise capital, expand retail and diaspora investor participation, attract foreign institutional investors and develop sustainable finance and digital asset markets.

The roadmap is structured around five pillars covering regulatory clarity and enforcement, market infrastructure modernisation, diversification of issuers and financial instruments, expansion of the investor base, and institutional and professional capacity development.

Each pillar includes an implementation framework outlining responsibilities, timelines and performance measures.

“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,” said Emomotimi Agama, Director General of SEC Nigeria.

“Nigeria has the people, the enterprise and the ambition. What we are now building is a market to match them.”

The Masterplan builds on the country's previous capital market development programme, which achieved an overall activity completion rate of 63%.

Areas identified for further progress include financial inclusion, regional integration, sustainable finance and the mobilisation of capital towards priority sectors.

FSD Africa's involvement has focused on linking capital market development with Nigeria's broader economic objectives, particularly infrastructure financing, SME growth and financial inclusion.

“Our support for Nigeria's new Masterplan is grounded in the principle that capital markets need to work for the wider economy,” said Mark Napier, CEO of FSD Africa.

“With its scale and regional importance, Nigeria has a significant opportunity to mobilise more domestic and international capital towards businesses, infrastructure and sustainable growth.”

The UK government funded FSD Africa's technical support as part of its wider strategic partnership with Nigeria.

“The UK is proud to have funded FSD Africa's support for the development of Nigeria's Capital Markets Masterplan 2.0,” said British High Commissioner Pete Vowles in remarks delivered by Paul Healey, Head of Green Growth and Private Sector Development at the British High Commission.

“This ambitious, Nigerian-led reform will help mobilise more domestic and international investment and connect capital with commercial opportunities in businesses and infrastructure.”

The Masterplan also seeks to strengthen Nigeria's integration with other African financial markets through cross-border capital raising, regional listing frameworks and closer alignment with initiatives under the African Continental Free Trade Area.

Alongside the reforms, the National Savings Scheme is intended to encourage greater domestic savings and channel more locally generated capital into investment.

“Savings are the raw material of investment, and a nation that saves through its own capital market builds with its own resources,” Agama said.