By Peter Egwuatu  

The Securities and Exchange Commission, SEC has said that the $1 trillion economy is a necessity that must be pursued to achieve prosperity for Nigerians.

Director General of the Commission, Dr.   Emomotimi Agama stated this yesterday   at the Journalists Academy for the capital market correspondents in Lagos.

He said: “Achieving a $1 trillion economy is not merely an aspirational goal; it is a necessity for the prosperity and resilience of Nigeria. The capital market, as the financial backbone of our economy, is poised to drive this transformation. However, the journey demands collective effort—from policymakers ensuring an enabling environment, to businesses leveraging market opportunities, and, importantly, to journalists who communicate the market’s value to the broader public”.

He charged journalists to report the market accurately and educate Nigerians on the use of the market in raising funds for  growth and development of the economy, stressing that the capital market cannot be overstated.

“As custodians of public knowledge, you hold the power to amplify the capital market’s impact, shaping narratives that inspire trust and participation” he added.

Agama, who was represented at the occasion by John Briggs, Lagos Head of SEC said: “As we navigate the complexities of Nigeria’s economic landscape, the capital market emerges as a cornerstone in the pursuit of sustainable growth and development. The capital market is the engine that drives economic progress by channeling resources from savers to those who need capital for productive use.

“Globally, countries that have achieved economic milestones—whether in industrialisation, infrastructure, or innovation have relied heavily on the capital market to mobilise and allocate resources efficiently.

“In Nigeria, this reality holds immense potential. With the right policies, frameworks, and investor confidence, the capital market can transform into a formidable force for financing the aspirations of our economy. But how does this translate into actionable benefits for Nigeria?”

“In answering this, Agama explained that: “A significant pathway to economic transformation lies in financing critical national projects, especially in infrastructure. Nigeria has already demonstrated how the capital market can fund these needs through innovative instruments like sovereign bonds and a number of Sukuk.

“For example, the federal government has raised significant capital by issuing six Sukuks   to fund road projects across the six geopolitical zones. This innovative funding approach reduced the reliance on external borrowing while driving job creation, improved logistics, and regional integration.”