The Federal Government is targeting an increase in retail investors in Nigeria’s capital market from six million to 20 million and an expansion of listed companies from 146 to 250 by 2036.
The Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, disclosed the targets at the National Capital Market Conference 2026 held in Abuja on Monday, according to a statement issued by the Securities and Exchange Commission after the event.
The targets represent an additional 14 million investors, a 233.3 per cent increase, while the number of listed companies is expected to rise by 104, a 71.2 per cent increase.
“Oyedele said the plan should target increasing equity market capitalisation from 33 per cent of gross domestic product to at least 60 per cent, raising the number of listed companies from 146 to 250 and expanding retail investors from six million to 20 million,” the statement read.
Oyedele also proposed increasing equity market capitalisation from 33 per cent of Nigeria’s Gross Domestic Product to at least 60 per cent. He said the government would introduce incentives to attract more private businesses to the Nigerian Exchange rather than compel them to list.
“We cannot force them. We would encourage Nigerian private businesses to list. We will use incentives to attract them,” he said.
