Nigeria’s federal government has set an ambitious target to expand the country’s capital market, aiming to lift the number of retail investors from the current six million to 20 million by 2036, Finance Minister Taiwo O announced.
Alongside this push for greater investor participation, the government also plans to increase the number of companies listed on the Nigerian Stock Exchange to 250 by the same year, a move that would broaden the range of investment opportunities available to ordinary Nigerians.
Finance Minister Taiwo O said the initiative is part of a broader effort to deepen and diversify the market, encouraging more households to invest in equities and other securities.
While the announcement did not detail specific mechanisms for achieving these goals, it signals a continued focus on strengthening the financial sector as a driver of economic growth and wealth creation.
The targets reflect the government’s commitment to making the capital market more inclusive and robust, potentially unlocking new avenues for savings and investment across the country.
<small>Source: Punch Nigeria — read the original story there.</small>