The United Kingdom has said Nigeria’s efforts to strengthen its capital markets could unlock new investment opportunities, create jobs and promote shared prosperity in both countries as Nigeria launches a 10-year roadmap to mobilise domestic and international capital.
The UK said deeper financial cooperation between both countries could help channel investment into businesses and infrastructure while strengthening economic ties.
The United Kingdom has said Nigeria’s efforts to strengthen its capital markets could unlock new investment opportunities, create jobs and promote shared prosperity in both countries as Nigeria launches a 10-year roadmap to mobilise domestic and international capital.
The remarks came as Nigeria launched the Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, alongside a National Savings Scheme aimed at mobilising domestic resources to support investment and economic development.
The launch was attended by Vice President Kashim Shettima, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, Vowles and Mark Napier, Chief Executive Officer of FSD Africa.
The masterplan sets out reforms to build a more diversified, efficient and transparent capital market, strengthen Nigeria’s position as a regional financial hub and support the country’s ambition to develop a $1 trillion economy.
British High Commissioner to Nigeria, Pete Vowles, said the UK was proud to have funded FSD Africa’s technical support for the development of the new masterplan, describing it as an ambitious, Nigerian-led reform initiative.
He said the roadmap would help mobilise more domestic and international investment by connecting capital with commercial opportunities in businesses and infrastructure.
The support forms part of the broader UK-Nigeria Strategic Partnership, which prioritises economic growth and job creation.
According to the High Commissioner, stronger capital markets and closer links between both countries’ financial sectors could generate opportunities for investment and employment while supporting prosperity in Nigeria and the UK.
The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said the masterplan would help deepen Nigeria’s capital markets to the scale required to finance the country’s economic ambitions.
He stressed that capital markets play a critical role in converting household savings into productive investments that support businesses, infrastructure and employment.
He explained that the simultaneous launch of the masterplan and the National Savings Scheme was intended to strengthen the link between domestic savings and investment.
The initiative is expected to support efforts to mobilise local savings and direct more funds towards productive sectors of the economy, reducing reliance on external financing.
Mark Napier, CEO of FSD Africa, said the masterplan was designed to ensure that capital market development translates into broader economic benefits.
Napier pointed to FSD Africa’s work in Zambia and Ethiopia, where support for financial market development and efforts to address regulatory and market constraints helped establish conditions for greater capital mobilisation, including investment in renewable energy.
FSD Africa’s support for Nigeria has focused on connecting capital market development with wider economic priorities, including infrastructure, small and medium-sized enterprises (SMEs), financial inclusion and sustainable development.
The Nigeria Capital Market Masterplan 2.0 seeks to position the capital market as a major driver of economic transformation by directing long-term funding towards infrastructure, energy, climate resilience, SMEs, financial inclusion and job creation.
Each pillar is supported by an implementation framework outlining responsibilities, timelines and performance measures.
The new masterplan builds on the previous Nigeria Capital Market Masterplan, which recorded an overall activity completion rate of 63%, according to the document.
The success of the plan will depend on effective implementation, regulatory coordination and the ability to attract more investors and issuers into the market over the next decade.
