FG Backs Stockbrokers To Leverage Market For $1tn GDP Target

The Federal Government has commended the Chartered Institute of Stockbrokers (CIS) for its proactive advocacy aimed at leveraging the Nigerian capital market to drive the country’s ambition of achieving a $1 1tn economy.

Speaking at the 29th Annual Stockbrokers’ Conference, the Deputy Chief of Staff to the President in the Office of the Vice President, Senator Ibrahim Hadejia, said the government recognises the pivotal role of the capital market in accelerating economic growth and remains committed to fostering collaboration with key market stakeholders.

“On behalf of the Federal Government, I wish to commend the Chartered Institute of Stockbrokers for its bold and forward-looking advocacy aimed at positioning the Nigerian economy on the path to achieving a $1tn GDP,” Hadejia stated.

“The journey to a $1tn economy is ambitious, but with strategic collaboration between government, regulators, and market operators, it is entirely achievable.”

Hadejia noted that the government views the capital market as a vital engine for mobilising long-term funds, stimulating private investment, and ensuring sustainable economic transformation.

He reaffirmed the administration’s readiness to work closely with the CIS and other capital market institutions to deepen financial inclusion and investor confidence.

The conference, themed “Capital Markets in a Digital, Ethical, and Sustainable Era: Charting Pathways for Economic Transformation,” convened key stakeholders from the financial services sector, including regulators, operators, and policymakers, to explore innovative strategies for repositioning the Nigerian capital market within the evolving global landscape.

Delivering a keynote address on behalf of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Minister of State for Finance, Dr Doris Uzoka-Anite, the Director General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, reaffirmed the government’s ongoing reforms to strengthen the capital market’s institutional framework.

Agama highlighted progress under the Capital Market Master Plan (2015–2025) and its extended outlook to 2035, noting that the SEC has implemented strategic initiatives such as Risk-Based Supervision (RBS) and the National Investor Protection Fund (NIPF) to enhance regulatory efficiency and safeguard investors.

“Digital tools such as e-Dividend and Direct Cash Settlement have improved market transparency and efficiency. However, enforcement must be faster and more decisive to deter misconduct effectively. The focus must now shift from aspiration to execution,” he said.

He also pointed to the importance of good governance, citing the Nigerian Code of Corporate Governance (2018) as a key instrument for promoting ethical business practices and investor trust.

In his address, the 13th President and Chairman of the Council of CIS, Mr Oluropo Dada, described technology, ethics, and sustainability as converging forces reshaping global markets.

He said the Institute remains committed to equipping market professionals with the knowledge and tools required to harness innovations such as blockchain, artificial intelligence, and fintech for inclusive growth.

“Technologies like blockchain and AI are revolutionising market operations, making them more efficient and inclusive,” Dada noted.

“This conference aims to explore how Nigeria can leverage these trends to retool the capital market for stronger economic and social outcomes.”

Dada added that since the COVID-19 disruptions in 2020, Nigeria’s capital market has delivered some of the highest verified returns on investment globally, a testament to its resilience and potential as a growth driver.

Also speaking, the Chairman of NGX Group Plc, Alhaji Umaru Kwairanga, emphasised the role of sustainability in shaping the future of finance.

“The future of finance is green. We must channel capital into climate-resilient initiatives, renewable energy, and the broader low-carbon transition. NGX remains committed to integrating ESG principles across the market,” Kwairanga said.

On his part, the Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Mr Sam Onukwue, called for policy consistency, product diversification, and improved liquidity to attract both local and foreign investors.

“Stable, predictable policies are crucial to attracting investment. Diversifying instruments, including non-interest and alternative products, is key to broadening investor participation and sustaining market confidence,” he said.

The highlight of the event was the conferment of Fellowship status on 48 distinguished members of the Institute, including the former Spokesman of the Nigerian Stock Exchange (now NGX), Mr Sola Oni, while 220 new Associate Members were also inducted into the Institute.