Senate panel proposes N10bn for capital market investor education in 2025 budget

The senate committee on capital market has proposed a N10 billion special fund for investor education in the capital market as part of the 2025 budget.

According to the senate panel, the initiative aims to raise awareness among Nigerians and attract more investors to the market.

Osita Izunaso, chairman of the senate committee on capital market, announced the initiative on Tuesday during the Securities and Exchange Commission’s (SEC) budget defence session in Abuja.

Speaking to Wale Edun, minister of finance and coordinating minister of the economy, Izunaso said the capital market is crucial to achieving President Bola Tinubu’s vision of a $1 trillion economy and must attract broader participation.

He stressed the need for special funding to promote financial literacy and expand the market’s reach.

“The capital market is doing well, but we need to do better to attract more investors. At present, participation is low and I don’t think it is right. Also, the number of companies listed in the exchange is low compared to the companies that operate in this country,” the chairman said.

“I believe we require special funds to finance literacy in the capital market, we need to do more to take our capital market to where it is supposed to be.

“You are going to get our letter to include a N10 billion special funding of capital market literacy in the 2025 budget. This will aid investor education and make our capital market blossom.”

Izunaso commended the finance minister for supporting SEC’s efforts in repositioning the market, adding that the market needs to be encouraged to support economic development.

The chairman pledged the senate’s continued support for the capital market to help it reach its full potential, noting that investor confidence is essential for a thriving market.

EDUN SAYS NIGERIA NOW INVESTMENT-FRIENDLY

In his remarks, Edun said Nigeria now enjoys a more stable and investment-friendly environment, attributing it to Tinubu’s strategic and timely actions designed to accelerate economic growth and lift millions out of poverty.

The minister said the stock market has started the year on a good note already, reflecting investor confidence and the market’s resilience.

“There are ways in which the government can encourage more participation and savings through the stock market and the Nigerian economy has savings that can be invested,” Edun said.

He also underscored the role of pension funds in deepening market participation, citing monthly savings by civil servants as a potential investment driver.

“We have our pension accounts where salary earners and civil servants are saving every month and the government is also contributing,” the minister said.

Edun commended the national assembly, regulators, and market participants for their contributions to market growth, reaffirming that the capital market will remain a major driver of Nigeria’s economic growth.