By Dickson Pat
Federal government has said that the capital market will play significant role in achieving its ambitious $1tn economy in the next decade.
But it said capital market operators deepen investor confidence, improve financial literacy, and prepare for the implementation of ISA 2025 and a new Capital Market Master Plan ,CMMP 2030.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun said this at the 2025 First Capital Market Committee ,CMC, Meeting.
The Finance Minister, represented by the Minister of State for Finance, Dr Doris Uzoka-Anite highlighted the need for transitioning into a $1tn economy within the next decade.
Edun argued that “The capital market must become the primary engine for mobilising long-term finance across critical sectors such as infrastructure, housing, manufacturing, technology, and energy.
“This vision is overdue. Nigeria had the potential to reach this milestone 20 years ago”.
The minister said the federal government has set the foundation for a mega-economy with its reforms.
Edun said, “With the reforms we’ve undertaken, including fuel subsidy removal, FX harmonisation, and tightening of the fiscal framework, the foundation is now set for private capital to power growth.
“We’ve done the reforms. The time has come to implement. Let us build a rule-based, resilient market that unlocks growth for all Nigerians, he emphasised”.
He highlighted the challenges of capital absorption and exit pathways, adding that there was a need for robust frameworks to ensure that foreign and domestic capital can not only be attracted but also exited seamlessly.
“The real question we must ask is: If a billion-dollar investment enters this market, do we have the structure for it to exit smoothly? Until we can answer that, we can’t claim the market is truly ready”, he added.
