FG targets 20 million investors, 250 listed companies by 2036

The Federal Government of Nigeria has set ambitious targets to boost its capital market by 2036. In a recent statement, Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, outlined plans to increase the number of retail investors from six million to 20 million, a rise of 14 million or 233.3%. The target also aims to expand the number of listed companies from 146 to 250, representing a 104 increase or 71.2%.

Oyedele emphasized the need to raise equity market capitalization from 33% of Nigeria's Gross Domestic Product to at least 60%. He also proposed attracting more private businesses to the Nigerian Exchange through incentives rather than forcing them to list. The government aims to expand its capital market to $1tn within the next decade, surpassing the Securities and Exchange Commission's target of growing the market from approximately N250tn to N750tn by 2036.