The Securities and Exchange Commission (SEC) is getting set to unveil an optimistic ten-year master plan for the Nigerian capital market which would hopefully refocus the market and help double its size over time and grow the economy.
Speaking at the technical session of the 4th Annual Capital Market Retreat in Abuja, Arunma Oteh, director general, SEC, said on Wednesday that when finalised and adopted, the master plan would reposition the Nigerian capital market as one of the best and biggest globally standardised bourse.
She said moreover that the propositions in the master plan (2015-2025) would offer a leeway on improving SMEs investors’ participation in the market on a sustainable basis and thereby lift poverty.
The draft document is dominating discussions at the 3-day forum which would last till Friday.
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Citing the experiences of Malaysia and Kenya which had leveraged on plan capital market master plans to deepen capitalisation and create opportunities for inclusive growth, Oteh expressed the hope that Nigeria’s master plan would impact positively on the poor and micro enterprises if stakeholders commit to its implementation.
“It is good that we will have a guide for the next ten years like what Malaysia did by doubling the size of its market with a master plan and now they are focused on another one.
“It is an important initiative and the technical session should come up with creative ideas to move our country forward over the next ten years with the master plan,” she advised.
“What started in 2010 as an idea will this week crystallize into an alignment of thoughts of what we want to do in the next ten years and make sure that those plans are well executed and in ten years we can realise our aspirations and I know that would not have been possible without the great work of members of Capital Market Masterplan committee,” the SEC boss added.
