‘Vibrant capital market critical to $1tr economy’

Securities and Exchange Commission (SEC) has stated that a vibrant capital market is key to achieving the Federal Government’s $1 trillion economy target and all-inclusive prosperity.  
   
Director-General of SEC, Dr Emomotimi Agama, said this at the 2024 SEC Journalists Academy held in Lagos, yesterday.
  
Agama spoke on the theme, “The Role of the Capital Market in Driving Nigeria’s $1 Trillion Economy.”
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He said the achievement demands collective effort from policymakers, ensuring an enabling environment for businesses to leverage market opportunities and, importantly, for journalists to communicate the market’s value to the public.
  
“Achieving a N1 trillion economy is not merely an aspirational goal; it is a necessity for the prosperity and resilience of Nigeria.
  
“The capital market, as the financial backbone of our economy, is poised to drive this transformation,” Agama said.
  
He, however, noted that limited investor participation, regulatory bottlenecks and macroeconomic uncertainties were constraining the capital market full potential to achieve $1 trillion economy.
  
The challenges, according to him, must be addressed to achieve the full potential of the capital market in the one trillion dollar economy.
  
He added that the capital market, despite the challenges, had helped in the development of the nation’s economy, noting that the Federal Government had raised significant capital by issuing six Sukuk to fund road projects across the six geo-political zones.
  
Agama explained that a significant pathway to economic transformation lay in financing critical national projects, especially in infrastructure.
  
The SEC DG said the innovative funding approach reduced the reliance on external borrowing, while driving job creation, improved logistics and regional integration.
  
“The issuance of green bonds has further cemented the role of the capital market in supporting Nigeria’s transition to a low-carbon economy, addressing both infrastructure and environmental sustainability,” he said.
  
He urged journalists, as custodians of public knowledge to amplify the capital market’s impact by shaping narratives that would inspire trust and participation.
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