Stockbrokers Back N750trn Market Capitalisation Target

Nigeria’s capital market is building momentum toward a N750 trillion market capitalisation target following a year of regulatory reforms and international recognition.

The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) said developments in 2026 have consolidated the market’s role as a driver of economic growth, citing landmark initiatives and improved infrastructure.

In a joint statement signed by president of CIS, Dr. Fiona Ahimie and chairman of ASHON, Sehinde Adenagbe, the bodies highlighted four key milestones: the Nigerian Exchange Limited’s recognition as Africa’s Best Exchange, the inauguration of the Capital Market Master Plan 2.0, the launch of the National Savings Scheme, and Nigeria’s transition to a T+1 settlement cycle on June 1, 2026.

They attributed the gains to coordinated efforts by regulators, market operators and professional bodies to enhance domestic and international competitiveness.

CIS and ASHON commended the Securities and Exchange Commission for its leadership in introducing initiatives aimed at mobilising domestic savings and expanding investor participation, which they said are critical to achieving the N750 trillion target.

They also praised the Federal Ministry of Finance for collaborating with the SEC on the National Savings Scheme, noting that the scheme could deepen financial inclusion and expand the pool of domestic capital available for productive activities, if backed by sustained implementation and public awareness.

On market operations, the bodies said the shift to T+1 settlement has enhanced settlement efficiency, reduced counterparty exposure and aligned Nigeria’s market with global best practice.

They further described the ongoing Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals, extended to October 27, as a defining moment for capital mobilisation and retail wealth creation.

Nigeria’s return to FTSE Russell Frontier Market status was also highlighted, with the bodies noting that improvements in FX liquidity, capital repatriation and regulatory transparency could boost appeal to foreign investors.

Other supporting factors include banking sector recapitalisation, growth in digital investment platforms and increased focus on sustainable finance.

CIS and ASHON stated that sustaining the gains would require stronger retail participation, improved investor protection, technological innovation and a more conducive business environment.

They urged continued collaboration among regulators, operators and issuers to translate market growth into broader economic prosperity.