Nigeria’s capital market has recorded a 125 percent growth in market capitalisation over the past two years, rising from around N55 trillion in April 2024 to over N123.9 trillion, the Securities and Exchange Commission has said. The development was announced by SEC Director-General Emomotimi Agama during a capital market working group meeting in Lagos on Sunday, 23 February 2026.
Mr. Agama said the market’s contribution to the nation’s gross domestic product has increased from 13 percent to 33 percent over the same period, reflecting rising investor confidence and the sector’s growing role in economic development. He added that while the figures are impressive, a large market alone is not sufficient without adequate depth and liquidity.
The SEC chief said boosting liquidity will require product innovation, including the faster development of derivatives and other asset classes to support hedging and market activity. He also highlighted the newly enacted Investments and Securities Act of 2025, which expands the commission’s oversight to include digital assets.
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Agama urged the working group to propose measures to make the market deeper, more inclusive, and globally competitive, supporting the federal government’s goal of building a trillion-dollar economy. He emphasised that the capital market remains a key engine for financing infrastructure, industry, and job creation.
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