N10bn Fund Needed for Capital Market Awareness, Says Senate
The Senate has proposed an N10bn fund for investor education in the capital market as part of the 2025 budget.
The Chairman of the Senate Committee on Capital Market, Osita Izunaso, disclosed this during the budget defence session of the Securities and Exchange Commission in Abuja on Tuesday.
Izunaso stressed the need for increased investor participation in the market, noting that inadequate awareness remains a key challenge.
He also urged the Federal Government to leverage the capital market in achieving President Bola Tinubu’s vision of a $1tn economy.
“The capital market is performing well, but we need to do more to attract investors. Currently, participation is low, and the number of listed companies is far below the potential of our economy.
“I believe a special fund is required to boost financial literacy in the capital market. This will help drive investor education and expand market participation. We will formally request the inclusion of N10bn for this purpose in the 2025 budget,” Izunaso stated.
He commended the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, for his support in repositioning the market and reiterated the Senate’s commitment to ensuring its sustained growth.
“As part of our efforts, we have repealed the Investment and Securities Act, and the new bill is currently awaiting presidential assent. This underscores the importance of the capital market to Nigeria’s economic development,” he added.
In response, Edun assured that the government remains committed to fostering a stable and investment-friendly environment.
He noted that recent policy measures have strengthened market confidence, with the stock market already recording positive growth this year.
“The capital market plays a critical role in mobilising savings for investment. The government is working on ways to encourage greater participation, including leveraging pension contributions to boost investment flows,” Edun said.
He expressed optimism about the market’s future, commending regulators, lawmakers, and other stakeholders for their role in supporting economic development.
“The capital market will be a major driver of growth, and we must continue to build on the progress recorded so far,” he added.
