SEC introduces National Savings Scheme to widen capital market participation

The Securities and Exchange Commission (SEC) has unveiled a National Savings Scheme designed to help Nigerians across different income groups save and invest through the capital market.

SEC Director-General Dr. Emomotimi Agama announced the initiative at 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 legal backing under the Investments and Securities Act 2025, will target traders, farmers, young graduates and other groups, with investments managed by professional fund managers registered with the Commission.

Agama said the National Savings Scheme was designed to address the gap between the growth in Nigeria’s capital market and the number of Nigerians participating in it. He noted that rising market valuations had not translated into sufficiently broad ownership of financial assets.

The SEC chief described the scheme as an important instrument for financial inclusion, particularly for Nigerians who have limited participation in the capital market.

According to Agama, the scheme will connect household savings to productive investments, with SEC-registered professional fund managers responsible for managing the funds.

Agama said the implementation process would include clear responsibilities, timelines and performance measures to ensure that the scheme and other initiatives produce measurable outcomes.

The National Savings Scheme comes after a period of strong performance in Nigeria’s equities market. Agama said market capitalisation crossed N100 trillion for the first time in January 2026 before reaching another record above N150 trillion in September.

He added that the NGX All-Share Index had gained approximately 60% in 2026, following a 51% return in 2025.

The NCMMP 2.0 follows the Revised Capital Market Master Plan 2015–2025, which was launched in November 2022.

The developments highlight efforts to increase both the number of investors participating in the market and the supply of companies available for investment.

The National Capital Market Master Plan 2.0 targets an expansion of Nigeria’s capital market from approximately N250 trillion to N750 trillion by 2036. Achieving that goal will require broader retail ownership, more listed companies and deeper financing opportunities.

Agama said the Commission would track implementation of the master plan through publicly reported performance measures.

The scheme’s success will depend on investor protection, credible disclosures, effective regulation and consistent economic policies.

Beyond increasing market capitalisation, the challenge will be ensuring that more households can participate in investment opportunities while businesses gain access to long-term financing for productive activities.

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