Presidency, SEC Unveil Plans Mobilise Domestic Savings for $1 Trillion Economy

Presidency, SEC Unveil Plans Mobilise Domestic Savings for $1 Trillion Economy Shettima to endorse 10-year Capital Market Master Plan Deji Elumoye in Abuja The Presidency and the Securities and Exchange Commission (SEC) have unveiled plans to deepen Nigeria’s capital market and mobilise domestic savings in a bold move to support President Bola Tinubu’s $1 trillion economic growth target. While SEC is to introduce a National Savings Scheme backed by tax incentives, Vice President Kashim Shettima is expected to endorse the Nigerian Capital Market Master Plan 2.0, a 10-year strategic framework for the development of the market, as part of the initiative. The initiatives will feature prominently at the Capital Market Conversation scheduled for October 19, 2026, at the State House, Abuja. The Presidency and SEC disclosed this weekend during a strategic partnership meeting in Abuja ahead of the event, which is expected to attract local and international investors, capital market operators, listed companies, market infrastructure institutions, policymakers and other stakeholders. Speaking during the briefing, the Technical Adviser to the President on Economic and Financial Inclusion (Office of the Vice President), Dr Nurudeen Abubakar Zauro, said the administration regarded a deeper capital market as critical to mobilising capital, broadening investment opportunities, and strengthening financial inclusion. Zauro said the October conversation would allow stakeholders to review developments in the sector and identify measures for further growth. “It is no longer news that the capital market of Nigeria has been doing very well, especially under Mr President, with all the reforms that are ongoing to make Nigeria an investor-friendly environment,” he said. According to him, the event would also provide an opportunity to “celebrate our very own success stories within the capital market and democratise access to the market.” Zauro noted that financial inclusion should go beyond opening bank or investment accounts, stressing the need to ensure ordinary Nigerians can access financial and economic opportunities and participate in investment. The initiative, Zauro said, was aligned with Tinubu’s Renewed Hope Agenda and the administration’s $1 trillion economic target. “The whole conversation on that day is deepening the sector to achieve the $1 trillion economy target set by Mr President, and that aligns with his Renewed Hope Agenda.” Also speaking, Director-General of the SEC, Dr Emomotimi Agama, said the National Savings Scheme was designed to give Nigerians an opportunity to save and invest their savings for the future. “The National Savings Scheme, principally, is an inclusion tool wherein every Nigerian is allowed to save, and such savings will now be invested for the future,” Agama explained. He said the scheme would include tax incentives, adding that the initiative aligned with the Federal Government’s wider fiscal reforms. According to him, the tax reliefs for citizens below specified income thresholds would leave low-income earners with more disposable income and potentially increase their capacity to save and invest. The SEC DG also announced that Shettima would endorse the Nigerian Capital Market Master Plan 2.0 at the October 19 event. He described the document as a 10-year strategic framework that would guide market development and establish measurable indicators to assess performance. “The Nigerian Capital Market Master Plan 2.0 is a 10-year master plan that provides the direction of the market, understanding that the capital market is the barometer of the economy,” he said.