The Revised Capital Market Master Plan 2015-2025 (RCMMP), developed by the Securities and Exchange Commission (SEC) Nigeria in collaboration with stakeholders, has been described as capable of providing a blueprint to harness opportunities to better position the capital market as the engine of economic growth and development.
Director General of SEC, Mr. Lamido Yuguda, who stated this recently, disclosed that the master plan captures the challenges of the capital market in actualising its role to drive national economic growth and also proffers solutions to enable it to attain its full potential.
Yuguda stated that Nigeria in the last decade has firmly emerged as one of the leading frontier markets in Africa with immense potential for significant growth as the aspiration of the government to create opportunities for the private sector to be a major engine of growth that guarantees improvement in the welfare and standard of living of the citizens has been diligently articulated in the Medium-Term National Development Plan (MTNDP) 2021-2025.
According to him, “The MTNDP emphasises the development of a deep, broadened and competitive financial system that is better positioned to support private sector growth and economic diversification. Capital Markets provide a useful means to mobilise capital and harness economic interests in an efficient manner to drive innovation and growth,” he said.
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The SEC boss said the first five years of the original Capital Market Master Plan 2015-2025 (CMMP) implementation focused on market and governance reforms in the aftermath of the global financial crises of 2008 and the Nigerian market correction that continued into 2009, with significant success.
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