Kelechukwu Mgboji 
In a bid to deepen investor participation and drive economic expansion, the Nigerian Senate has proposed a ₦10 billion special fund for capital market literacy as part of the 2025 budget. The initiative seeks to enhance financial awareness among Nigerians and attract more participants to the stock exchange, positioning the market as a key driver of national economic growth.
Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, made this announcement during the Securities and Exchange Commission’s (SEC) budget defence session in Abuja on Tuesday.
Addressing the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, Izunaso underscored the crucial role of the capital market in achieving the federal government’s ambitious goal of a $1 trillion economy.
“The capital market is performing well, but we must do better to attract more investors,” Izunaso stated. “Currently, participation is unacceptably low, and the number of listed companies is disproportionately small compared to the vast number of businesses operating in Nigeria. Without adequate financial literacy, many potential investors remain on the sidelines.”
To bridge this gap, Izunaso announced the Senate’s intent to formally request a ₦10 billion allocation for investor education in the 2025 budget. “This funding will not only enhance market literacy but also stimulate growth, ensuring our capital market reaches its full potential,” he added.
Commending the Finance Minister for his support in strengthening the SEC, Izunaso reiterated the Senate’s commitment to fostering a robust and transparent financial ecosystem. “Investor confidence is the bedrock of a thriving capital market,” he noted.
“That is why we have expedited the repeal of the Investment and Securities Act (ISA), which is now awaiting Presidential assent—a move that underscores the capital market’s importance to national development.”
In response, Mr Wale Edun emphasized the federal government’s ongoing efforts to create a stable and conducive investment environment, citing recent economic policies under President Bola Ahmed Tinubu as catalysts for growth.
“The stock market has already started the year on a strong note, signalling investor confidence and resilience,” Edun remarked. “There are numerous ways the government can incentivize participation, particularly by leveraging existing savings vehicles such as pension funds.
“With millions of Nigerians actively saving through structured accounts, there is significant potential to channel these funds into the capital market for higher returns and national economic advancement.”
He lauded the collaboration between the National Assembly, regulatory bodies, and market stakeholders, expressing optimism about the future. “We have a solid foundation to build upon, and with continued strategic reforms, the capital market will emerge as a cornerstone of Nigeria’s economic transformation,” he affirmed.
By prioritizing investor education, the Senate’s latest initiative underscores a broader commitment to financial inclusion and sustainable economic expansion—paving the way for a more vibrant, globally competitive capital market.
