Uwaleke Seeks Credible Delivery Framework for New Capital Market Master Plan
Ndubuisi Francis in Abuja Renowned professor of capital market, Uche Uwaleke, has underscored the need for the newly launched Nigeria Capital Market Master Plan (NCMMP 2.0) to be accompanied by
Professor Uche Uwaleke, a renowned capital market expert, has called for a more realistic delivery framework for Nigeria's newly launched Capital Market Master Plan (NCMMP 2.0). The plan, which aims to expand the capital market from N250 trillion to N750 trillion by 2036, was recently unveiled by Vice-President Kashim Shettima. Uwaleke, the Director of the Institute of Capital Market Studies at Nasarawa State University, argues that while the NCMMP 2.0 is an ambitious and commendable effort, its success depends on a credible implementation framework.
Uwaleke suggests a 10-year implementation horizon, spanning 2026-2036, may not be the most appropriate framework, proposing instead a five-year period within a broader 20-year vision up to 2045, similar to Malaysia's capital market masterplan. He points out that Malaysia's approach allows for measurable milestones, regular evaluation, and the ability to adapt to changing economic conditions while keeping the overarching vision in sight.
Uwaleke acknowledges that Nigeria already has a National Development Plan for 2026-2030, which could provide a natural framework for aligning capital market reforms with national priorities. He emphasizes that the NCMMP 2.0 must be integrated with Nigeria's national policy environment and have sustained political and institutional ownership for it to be effective.
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