The Chartered Institute of Stockbrokers has urged the Federal Government to introduce extensive changes that will set the Nigerian capital market as a catalyst. for reaching the country’s $1 trillion economy target.
The appeal was made in a communiqué released following a highlevel workshop at the State House Conference Centre, Aso Rock Villa, Abuja, with the theme “Capital Formation in Nigeria: Empowering Industry, Institutions and Markets to Drive a $1 Trillion Economy.”
To plan concrete steps toward unlocking Nigeria’s economic growth potential, the conference brought together politicians, regulators, industry experts, and financial leaders. Stockbrokers at the workshop emphasized that although the $1 trillion goal is attainable, it requires planned cooperation, more robust institutions, and consistent policy frameworks to effectively utilize the capacity for capital creation.
Though some advances have been made in recent years, they noted that obstacles including policy incompatibility, weak institutions, and shallow financial markets still obstruct capital mobilization. The communiqué, jointly signed by Institute President Oluropo Dada and Registrar Ayorinde Adeonipekun, emphasized the pressing need for strategic government coordination to bring fiscal, trade and monetary policies into line. Only such harmonization, they maintained, would create investor confidence and draw in long-term sustainable investment.
The News Chronicle observed that the volatility of foreign direct investment inflows—still far below the target—was among the most urgent issues discussed at the conference. Nigeria’s potential is hindered by currency instability, unpredictable rules, and infrastructure bottlenecks. Stockbrokers also pointed out that local capital mobilization through pensions, insurance, and retail involvement remains underutilized, thereby making the economy overly dependent on debt funding.
Among the recommendations of the Institute were incorporating the informal sector into the formal economy, developing new financial instruments to leverage diaspora remittances, and integrating the foreign exchange market with clear regulations that ensure liquidity and simplicity of repatriation. Furthermore, it was stressed that the a need for public-private partnerships for infrastructure development and for a national savings plan to direct local funds into technology, manufacturing, and other economic activities.
Implementing these changes will not only grow Nigeria’s capital base but also help to ensure its reputation as a top African investment destination, according to the stockbrokers.
