Nigeria capital market is targeting ₦750 trillion by 2036 under a Federal Government plan to expand investment and strengthen the economy. The initiative also seeks to list major state-owned companies, including the Nigerian National Petroleum Company Limited (NNPC) and Nigeria LNG Limited (NLNG), on the Nigerian Exchange.
Vice-President Kashim Shettima announced the Nigerian Capital Market Master Plan 2.0 in Abuja on October 19, 2026. The Securities and Exchange Commission (SEC) developed the plan to expand the market over the next decade.
The initiative aims to increase the market’s value from about ₦250 trillion to ₦750 trillion. It also seeks to attract more investors, improve business financing and support economic growth.
Nigeria Capital Market Plan Targets NNPC, NLNG Listings
Finance Minister Taiwo Oyedele has called for the listing of selected government-owned companies on the Nigerian Exchange. He specifically mentioned NNPC and NLNG as potential additions.
Oyedele said listing these companies could increase market value and improve transparency. It could also give Nigerians an opportunity to invest in major national businesses.
He pointed to Saudi Aramco as an example of how a major state-owned oil company can attract investors through the stock market.
However, the proposed listings have not been completed. The government is still pursuing them as part of its broader capital market development plans.
Oyedele also encouraged privately owned Nigerian companies to consider listing. He proposed incentives to attract businesses rather than forcing them to join the exchange.
The master plan includes other ambitious targets. It seeks to increase listed companies from 146 to 250 by 2036. It also aims to grow the number of retail investors from six million to 20 million.
These targets would expand investment opportunities and encourage more Nigerians to participate in the financial market.
FG Introduces National Savings Scheme
The government has also introduced a National Savings Scheme to promote saving and investment. The initiative aims to encourage Nigerians to use regulated financial products.
Finance Minister Oyedele said the scheme would support people saving for education, housing, business and retirement. It is also expected to improve financial awareness.
Meanwhile, the SEC plans to strengthen the bond market and expand available investment products. Other priorities include improving transparency and attracting more domestic and foreign investors.
The government hopes these measures will help businesses raise funds locally. They could also reduce dependence on short-term and foreign borrowing.
However, achieving the ₦750 trillion target will require sustained reforms and stronger investor confidence. More Nigerians must also gain access to investment opportunities.
The success of the plan will depend on its implementation. The government aims to use the capital market as a major source of funding for businesses and national development through 2036.
