Senate Proposes N10bn for Capital Market Literacy

The Senate Committee on Capital Market has put forward a ₦10 billion special fund in the 2025 budget to boost investor awareness and attract more participation in the capital market.

The Chairman of the Senate Committee on Capital Market, Osita Izunaso, disclosed this during the budget defense session of the Securities and Exchange Commission in Abuja, He emphasized that low awareness remains a key challenge and urged the Federal Government to leverage the market in achieving President Bola Tinubu’s $1 trillion economy vision. He emphasized the importance of dedicated funding to boost financial literacy and extend the market’s reach.

Izunaso stated “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 applauded the finance minister for supporting SEC’s efforts to revitalize the market, emphasizing the importance of encouraging the market to contribute to economic growth. He also assured the Senate’s ongoing support for the capital market, highlighting that building investor confidence is key to its success.

He further mentioned that, as part of their efforts, the Investment and Securities Act has been repealed, and the new bill is now awaiting presidential assent. This underscores the vital role the capital market plays in Nigeria’s economic development.

Edun assured that the government is dedicated to creating a stable, investment-friendly environment. He highlighted that recent policy measures have boosted market confidence, with the stock market showing positive growth this year. He emphasized the capital market’s role in mobilizing savings for investment and mentioned efforts to encourage greater participation, including utilizing pension contributions to increase investment flows.

Edun expressed optimism about the market’s future, praising regulators, lawmakers, and stakeholders for their support of economic development. He concluded by stating that the capital market will be a key driver of growth and must continue to build on its progress.