Lagos - The Securities and Exchange Commission (SEC) is targeting mutual
funds investments of N1 trillion in the next three years
Arunma Oteh, the Director-General of SEC disclosed this at the Centenary
Capital Market Committee meeting held in Lagos.
Oteh said that the target would be achieved through effective utilisation of
the market for medium and long-term funding for infrastructure development.
She noted that the Nigerian capital market’s contribution to the Gross
Domestic Product (GDP) would increase by 100 percent by 2024.
She said that the market’s current contribution to the GDP stood at 27 percent,
stressing that the market should be a barometer for economic development.
Oteh also said that the Nigerian capital market would be rated among the top
20 most performing markets in the world by 2024.
The director-general said that the major challenge of the market was inadequate
understanding by policy makers on its rudiments and benefits.
Oteh said that the commission would continue with its advocacy programme to
ensure increased participation and listing of more multinationals to achieve
According to her, Nigerians want to participate in wealth created by
privatised oil and information technology companies.
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