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The Director General of the Securities and Exchange Commission, SEC, Ms Arunma Oteh, who stated this at the 4th Capital Market Committee retreat held in Abuja said” The bond market has a lot of room for growth with debt-to-GDP ratio at only 11 percent compared to over 200 percent in Japan, 110 percent in Singapore, 103 percent in the United Kingdom, 103 percent in the United States (US) and over 60 percent in China. All round, liquidity needs to improve well beyond its current level.

So we want a bond market that will enable us meet the infrastructure deficit estimated at USD3.9 trillion over the next 30 years. We want a market that does more for housing finance, enabling Nigeria close down the 17 million housing unit deficit while supporting entrepreneurship by doing more for SMEs and startups.

We want a capital market that combines all the elements needed to support Nigeria actualize her aspirations of peace and prosperity for all citizens.”

Commenting on where it wants the country to be in 2025, she said “Without any master plan in place, we have been able to grow our stock market by a cumulative annual growth rate (CAGR) of 21.52 percent over the last 10 years.

I have no doubt, that with faithful implementation of these master plans our market will eventually emerge as one of the world’s deepest, most liquid and largest capital market that will not only contribute to the socioeconomic development of our dear country but will also serve as a global financial hub offering opportunities into other parts of Africa.

Therefore we want to see our market in 2025 to be deep, highly liquid, broad and diversified market that is a multiple of Nigeria’s GDP. It must boast of one of the most efficient and favorable operating environments that engenders best practice, innovation and competitiveness.”

Oteh, who spoke on the achievement of the Nigerian capital market since 2010 said “ We started by ensuring that investor confidence is restored, adopting a posture of zero tolerance to wrongdoing while strengthening our enforcement machinery through partnerships with the Office of the Attorney General of the Federation and the Nigeria Police Force. We instituted legal proceedings against over 260 individuals and entities for various forms of market infractions seeking to disgorge all illegally gotten wealth and restitute investors.