Sustained reforms in the Nigerian capital market have continued to boost investor confidence as assets under management (AUM) rose from N3.2 trillion to N10 trillion or 212.5 per cent within two years.

Speaking in Lagos during the ceremony marking Nigeria’s migration to the T+1 settlement cycle on Monday, Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said the market had recorded significant growth in the past few months, including an unprecedented rise in market capitalisation, increased investor participation and higher transaction volumes.

Agama also disclosed that the commission would unveil the Nigerian Capital Market Master Plan 2.0 between June and July, describing it as a key roadmap for sustaining the market’s expansion and competitiveness.

According to him, the growth in AUM from N3.2 trillion to N10 trillion indicates increasing confidence of both local and foreign investors in the Nigerian capital market.

He noted that February 2026 alone witnessed the largest single-month increase in market capitalisation in the history of the Nigerian stock market.

“In February 2026 alone, market capitalisation expanded by N17.6 trillion, representing the highest monthly gain ever recorded in the history of our market,” Agama said.

The SEC boss revealed that domestic and foreign portfolio investments on the Nigerian Exchange increased to N1.803 trillion in April 2026, representing a 3.35 per cent increase compared with the previous month and a 274.05 per cent surge from N482 billion recorded in April 2025.

He added that market activities have remained robust, with total transactions for the first four months of 2026 rising to N5.952 trillion, more than double the N2.714 trillion recorded during the corresponding period of 2025.

Agama described the performance as unprecedented and a clear indication of the growing strength and resilience of the Nigerian capital market.

He said the market’s contribution to the nation’s economy has also improved significantly, with its share of gross domestic product (GDP) rising from 13 per cent in April 2024 to 33 per cent in 2025.

According to him, market capitalisation has increased by about 125 per cent over the period, growing from approximately N55 trillion in April 2024 to over N123.93 trillion by February 2026.

Despite the impressive growth, Agama stressed that the market still has significant room for expansion, particularly in terms of liquidity, depth and broader investor participation.