The Revised Capital Markets Master Plan 2015-2025 (RCMMP), developed by the Nigerian Securities and Exchange Commission (SEC) in collaboration with stakeholders, has been described as capable of providing a blueprint for taking advantage of these opportunities to position the capital market as the engine of our economic growth and development.
The CEO of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, stated this recently. He revealed that the Master Plan captures the challenges of the capital market by upgrading its role in boosting national economic growth and also offers solutions to enable the capital market to reach its full potential.
Yuguda stated that Nigeria, over the past decade, has firmly emerged as one of the leading frontier markets in Africa with immense potential for significant growth as the government aspires to create opportunities for the private sector as a major driver of growth that ensures improvement in the well-being and standard of living of the citizens of a great country has been diligently articulated in Nigeria’s Medium Term National Development Plan (MTNDP) 2021-2025.
According to him, the MTNDP emphasizes the development of a deep, broad and competitive financial system that is better positioned to support private sector growth and economic diversification.
“Capital markets provide a useful means to mobilize capital and harness economic interests efficiently to drive innovation and growth.
“The last decade has been characterized by significant volatility in the global financial system caused by various economic and health shocks. At the same time, innovative technologies have significantly altered the way markets operate,” he noted.
The SEC chief said the first five years of the original implementation of the 2015-2025 Capital Markets Master Plan (CMMP) focused on market and governance reforms after the global financial crises. of 2008 and the correction of the Nigerian market that continued in 2009, with significant success.
He said the RCCMP provided a framework and outlined strategic initiatives that will help seize and unlock these capital market opportunities.
While he praised the Minister of Finance, Budget and National Planning, Ms. Zainab Ahmed for her unwavering support, Yuguda assured that together with market stakeholders, the SEC intends to lead the implementation of the RCMMP over the next few years. four years and in line with the objectives of the MTNDP.
This, he said, is a critical success factor in pursuing the dream of a peaceful and prosperous Nigeria for all citizens.
To position the Nigerian capital market as a key market in Africa, SEC Nigeria developed the 10-year CMMP in 2015.
The CMMP is a blueprint for positioning the Nigerian capital market as an efficient and internationally competitive market that can support Nigeria’s emergence as a top 20 global economy in line with Vision 20:2020.
The CMMP was developed to help the government achieve its strategic economic development program by facilitating an environment that attracts capital to priority economic sectors and ensures sustained interest from foreign investors in Nigeria.