By Ginika Okoye
President, Capital Market Academics of Nigeria, Prof. Uche Uwaleke, says the new Capital Market Masterplan 2.0 will make it easier for businesses, particularly Small and Medium-Enterprises (SMEs) to raise long-term capital.
Uwaleke said this on Monday, in an interview with the News Agency of Nigeria (NAN) Abuja.
NAN reports that the Nigeria Capital Market Masterplan 2.0 (NCMMP 2.0) is a 10-year strategic blueprint (2026–2036) unveiled by the Securities and Exchange Commission (SEC).
It is to grow the country’s capital market size from roughly N250 trillion to N750 trillion by 2036 and channel long-term funds into national economic development.
He explained that the masterplan would attract more domestic and foreign investment and improve liquidity in the market.
He also said that the plan would offer an important opportunity toward repositioning the country’s capital market as a major driver of economic growth and long-term national development.
According to him, the plan is timely as it focuses on regulatory reforms, modernising market infrastructure, diversifying investment products, deepening investor base, thereby addressing structural challenges confronting the market.
Uwaleke expressed optimism that the masterplan would facilitate greater participation by retail and institutional investors, Nigerians in the diaspora and international portfolio investors in the country’s capital market.
According to him, I will want to see a capital market that is not just growing in market capitalisation but increasingly financing infrastructure, industrial development, innovation and job creation.
He explained that the factors were real measures of the market’s overall success for the country’s long-term economic growth and national development.
”The implementation must go beyond publication of a beautiful policy document, with a clear framework, specific timelines, measurable targets, regular performance assessments must be assigned,” he said.
He urged the Securities and Exchange Commission (SEC) to emphasise consistent stakeholder engagement, including the academia represented by CMAN.
Uwaleke also called on SEC to also ensure continued investment in technology, while stressing the need for effective coordination among the SEC, CBN, Ministry of Finance, Nigerian Exchange Group and other relevant institutions for the Masterplan to succeed.
He advised market operators to encourage greater collaboration, innovation, improved corporate governance and investment in human and technological capacity across the market.
”Operators must also play an active role in expanding financial literacy and bringing more Nigerians into the investment market for deeper participation in the country’s market.
”There should be an annual assessment of progress on the masterplan’s objectives, with results made public to measure tangible outcomes achieved,” he emphasised.
NAN further reports that the new masterplan 2.0 was unveiled in October.
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