The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has stated that achieving a $1 trillion economy is not just an ambitious goal but a necessary step for Nigeria’s prosperity and economic resilience.
Dr. Agama made this assertion on Tuesday while speaking at the Journalists Academy for capital market correspondents held in Lagos.
He emphasized the critical role of the capital market in driving Nigeria’s economic transformation, stating that a collective effort is required to realize this goal.
“Achieving a $1 trillion economy is a necessity for Nigeria’s prosperity and resilience. The capital market, as the financial backbone of our economy, is poised to drive this transformation. However, this journey demands a collective effort—from policymakers creating an enabling environment, to businesses leveraging market opportunities, and journalists communicating the market’s value to the broader public,”Agama said.
The SEC DG urged journalists to accurately report on the capital market’s activities and educate Nigerians on its importance for raising funds and fostering economic development.
“As custodians of public knowledge, you hold the power to amplify the capital market’s impact, shaping narratives that inspire trust and participation,” he added.
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Dr. Agama, who was represented by John Briggs, SEC’s Lagos Head, reiterated that the capital market remains a fundamental driver of sustainable economic growth by channeling resources into productive sectors.
“The capital market is the engine that drives economic progress by channeling resources from savers to those who need capital for productive use. Globally, countries that have achieved significant milestones in industrialization, infrastructure, or innovation have relied heavily on the capital market to mobilize and allocate resources efficiently,”* he explained.
He stressed that with the implementation of the right policies, investor confidence, and an enabling environment, Nigeria’s capital market could become a powerful force for financing the country’s economic ambitions.
Highlighting the tangible benefits of the capital market, Agama underscored its role in funding critical national projects, particularly in infrastructure development.
“A significant pathway to economic transformation lies in financing critical national projects, especially in infrastructure. Nigeria has already shown how the capital market can fund these needs through innovative instruments like sovereign bonds and Sukuk,” he stated.
He cited the federal government’s successful issuance of six Sukuk bonds to fund road projects across Nigeria’s six geopolitical zones as a prime example.
“This innovative funding approach has reduced reliance on external borrowing while driving job creation, improving logistics, and fostering regional integration,” Agama added.
Dr. Agama concluded by reaffirming the SEC’s commitment to creating a vibrant, inclusive, and efficient capital market capable of powering Nigeria’s journey toward economic prosperity.