The Presidency and the Securities and Exchange Commission (SEC) are planning a National Savings Scheme aimed at mobilising more domestic savings for investment and supporting Nigeria’s ambition of building a $1 trillion economy.
The proposed scheme will include tax incentives designed to encourage Nigerians, particularly low-income earners and first-time investors, to save and channel their funds into investment opportunities.
The initiative is part of broader efforts by the Federal Government to deepen Nigeria’s capital market, expand financial inclusion and increase the market’s contribution to economic growth.
Vice President Kashim Shettima is also expected to endorse the Nigerian Capital Market Master Plan 2.0, a 10-year strategic framework for expanding the capital market and increasing participation by Nigerians.
The two initiatives are expected to feature prominently at the Capital Market Conference scheduled for October 19, 2026, at the Presidential Villa, Abuja.The Presidency and SEC announced the plans during a strategic partnership meeting in Abuja ahead of the conference.
The event is expected to attract domestic and international investors, listed companies, capital market operators, market infrastructure institutions, policymakers and other stakeholders.
Presidency seeks wider investment participation
Technical Adviser to the President on Economic and Financial Inclusion in the Office of the Vice President, Dr Nurudeen Abubakar Zauro, said the Federal Government considers a stronger and more inclusive capital market essential to mobilising long-term funds and expanding economic opportunities.
Zauro said the October conference would provide an opportunity to assess developments in the capital market, highlight recent achievements and identify ways of bringing more Nigerians into the investment ecosystem.
He said the government was interested in “democratising access to the market” and ensuring that financial inclusion goes beyond simply opening bank or investment accounts.
According to him, Nigerians should also have access to financial services, investment products and opportunities that can support wealth creation.He said recent reforms had made it increasingly possible for people with small amounts of money to participate in the capital market.
Savings mobilisation linked to $1trn targetZauro said discussions at the Presidential Villa would focus on investment inclusion, savings mobilisation, digital financial services and the development of products capable of attracting more Nigerians into the capital market.
He linked the initiative to President Bola Tinubu’s target of growing Nigeria’s economy to $1 trillion, saying the country would require a deeper capital market capable of mobilising the funds needed for long-term investment.
He added that the government was willing to work with private-sector stakeholders and other experts in developing policies capable of accelerating capital formation.SEC explains National Savings SchemeSEC Director-General, Dr Emomotimi Agama, said the proposed National Savings Scheme was designed as a financial inclusion mechanism that would give Nigerians across different income groups an opportunity to save and invest for the future.
Agama said tax incentives would form a major component of the proposed scheme.According to him, tax relief for Nigerians below specified income thresholds could increase disposable income and create additional room for savings and investment.
“The National Savings Scheme, principally, is an inclusion tool wherein every Nigerian is given an opportunity to save, and such savings will now be invested for the future,” Agama said.Shettima to endorse Capital Market Master Plan 2.0Agama also disclosed that Vice President Shettima is expected to endorse the Nigerian Capital Market Master Plan 2.0 at the October 19 conference.
He described the document as a 10-year roadmap for the development of Nigeria’s capital market.According to the SEC chief, the plan will establish measurable benchmarks for assessing the growth of the market, including its contribution to Gross Domestic Product and the number of Nigerians participating as investors.
Agama said Shettima’s endorsement would further highlight the importance of capital-market development to the Federal Government’s economic reform programme.
He noted that the Vice President also chairs the National Economic Council.SEC reviews investment laws and market growthThe SEC director-general said the Capital Market Conference would also provide an opportunity to examine the Investment and Securities Act in relation to the projected growth of the market.
He said stakeholders would consider additional measures required to increase Nigeria’s market-to-GDP ratio and expand the domestic investor base.Agama described both indicators as important measures of economic progress.He said reforms implemented in the capital market over the past few years demonstrated the government’s focus on economic growth and development.
The October 19 conference is expected to bring together stakeholders across Nigeria’s financial and investment sectors to discuss ways of converting more household and institutional savings into productive capital.The discussions will also focus on widening investment participation and strengthening the role of Nigeria’s capital market in financing long-term economic development.
