Nigeria has launched a ten-year roadmap to deepen its capital markets, mobilise domestic and international investment, and support its ambition to build a US$1 trillion economy by 2030. Also launched was a national savings plan. The Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, sets out reforms to create a more diverse, efficient and transparent market and strengthen Nigeria’s position as a regional financial hub.&nbsp;The plans were launched by H.E. Kashim Shettima, Vice President, alongside Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, Peter Vowles, the United Kingdom (UK) High Commissioner to Nigeria, and Mark Napier, CEO, FSD Africa.&nbsp;The Masterplan was developed by Nigeria’s Securities and Exchange Commission (SEC) with technical support from FSD Africa funded by the UK Government. Their support enabled the engagement of a consortium led by Genesis Analytics and Bourse Consult to support the development of the roadmap and its implementation framework.&nbsp;Speaking at the event, Dr. Emomotimi Agama, SEC Nigeria Director General, hailed the master plan as one that will help Nigeria deepen Nigerian capital markets to the scale needed to finance the country’s ambitious economic goals.&nbsp;"Every great economy has, at its heart, a capital market that turns the savings of ordinary people into the factories, roads, homes and businesses that create jobs. Nigeria has the people, the enterprise and the ambition. What we are now building is a market to match them," said the DG.&nbsp;Emphasizing the historic alignment of economic reforms and regulatory empowerment, Dr. Agama noted that the Master Plan was deliberately launched alongside the National Savings Scheme to harness home-grown resources for national development. "Savings are the raw material of investment, and a nation that saves through its own capital market builds with its own resources," Dr. Agama added.&nbsp;The British High Commissioner to Nigeria, Pete Vowles, represented by Paul Healey, Head of Green Growth and Private Sector Development at the British High Commission, said:&nbsp;“The UK is proud to have funded FSD Africa’s support for the development of Nigeria’s Capital Markets Masterplan 2.0. This ambitious, Nigerian-led reform will help mobilise more domestic and international investment and connect capital with commercial opportunities in businesses and infrastructure.&nbsp;“Our support forms part of the wider UK and Nigeria's Strategic Partnership, which has growth and jobs at its heart. By strengthening Nigeria’s capital markets and deepening links between our financial sectors, we can create new opportunities for investment, jobs and shared prosperity in both our countries.”&nbsp;Mark Napier, CEO, FSD Africa, lauded the master plan as key in guiding Nigeria’s ambitions to deepen her capital markets for greater growth and job creation.&nbsp;“Our support for Nigeria’s new Masterplan is grounded in the principle that capital markets need to work for the wider economy. With its scale and regional importance, Nigeria has a significant opportunity to mobilise more domestic and international capital towards businesses, infrastructure and sustainable growth”. He said.&nbsp;Also Read: <a href="https://www.wionews.com/world/after-france-unrest-italy-tightens-security-amid-violent-protests-in-milan-1792522355534">After France unrest, Italy tightens security amid violent protests in Milan</a>&nbsp;“We have seen how sustained capital market development can help create conditions for greater capital mobilisation. In Zambia and Ethiopia, our support to strengthen the country’s financial market architecture and address key regulatory and market constraints, helped lay the foundations for greater capital mobilisation, including into sectors such as renewable energy.” He added.&nbsp;FSD Africa’s support has focused on strengthening the link between capital-market development and Nigeria’s wider economic priorities, including infrastructure, SME growth, financial inclusion and sustainable development.&nbsp;NCMMP 2.0 seeks to position capital markets as a driver of wider economic transformation, helping to channel long-term capital towards national priorities including infrastructure, energy, climate resilience, SMEs, financial inclusion and job creation.&nbsp;To support these ambitions, proposed reforms include measures making it easier for businesses and state governments to raise capital, expand retail and diaspora participation, attract more foreign institutional investors, strengthen sustainable finance, and support the development of digital and tokenised assets.&nbsp;The Masterplan is structured around five pillars covering regulatory clarity and enforcement, modernising market infrastructure, broadening the range of issuers and financial instruments, diversifying the investor base, and strengthening institutional and professional capacity. Each pillar is supported by a sequenced implementation plan with clear ownership, timelines and measures of success.&nbsp;It also builds on lessons from the previous Capital Market Masterplan, which supported a number of significant reforms while leaving areas for further progress. The earlier plan achieved an overall activity completion rate of 63%, with financial inclusion, regional integration, sustainable finance and the mobilisation of capital to priority sectors among the areas identified for continued progress.&nbsp;The Masterplan also sets out ambitions to strengthen Nigeria’s regional role through greater cooperation with other African markets, cross-border capital raising and listing frameworks, and closer alignment with initiatives under the African Continental Free Trade Area.

Nigeria has launched a ten-year capital market roadmap and a national savings plan to mobilise investment, strengthen financial markets and support its ambition to build a $1 trillion economy by 2030.

Nigeria has launched a ten-year roadmap to deepen its capital markets, mobilise domestic and international investment, and support its ambition to build a US$1 trillion economy by 2030. Also launched was a national savings plan. The Nigeria Capital Market Masterplan 2.0, covering 2026 to 2036, sets out reforms to create a more diverse, efficient and transparent market and strengthen Nigeria’s position as a regional financial hub. The plans were launched by H.E. Kashim Shettima, Vice President, alongside Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, Peter Vowles, the United Kingdom (UK) High Commissioner to Nigeria, and Mark Napier, CEO, FSD Africa. The Masterplan was developed by Nigeria’s Securities and Exchange Commission (SEC) with technical support from FSD Africa funded by the UK Government. Their support enabled the engagement of a consortium led by Genesis Analytics and Bourse Consult to support the development of the roadmap and its implementation framework. Speaking at the event, Dr. Emomotimi Agama, SEC Nigeria Director General, hailed the master plan as one that will help Nigeria deepen Nigerian capital markets to the scale needed to finance the country’s ambitious economic goals. "Every great economy has, at its heart, a capital market that turns the savings of ordinary people into the factories, roads, homes and businesses that create jobs. Nigeria has the people, the enterprise and the ambition. What we are now building is a market to match them," said the DG. Emphasizing the historic alignment of economic reforms and regulatory empowerment, Dr. Agama noted that the Master Plan was deliberately launched alongside the National Savings Scheme to harness home-grown resources for national development. "Savings are the raw material of investment, and a nation that saves through its own capital market builds with its own resources," Dr. Agama added. The British High Commissioner to Nigeria, Pete Vowles, represented by Paul Healey, Head of Green Growth and Private Sector Development at the British High Commission, said: “The UK is proud to have funded FSD Africa’s support for the development of Nigeria’s Capital Markets Masterplan 2.0. This ambitious, Nigerian-led reform will help mobilise more domestic and international investment and connect capital with commercial opportunities in businesses and infrastructure. “Our support forms part of the wider UK and Nigeria's Strategic Partnership, which has growth and jobs at its heart. By strengthening Nigeria’s capital markets and deepening links between our financial sectors, we can create new opportunities for investment, jobs and shared prosperity in both our countries.” Mark Napier, CEO, FSD Africa, lauded the master plan as key in guiding Nigeria’s ambitions to deepen her capital markets for greater growth and job creation. “Our support for Nigeria’s new Masterplan is grounded in the principle that capital markets need to work for the wider economy. With its scale and regional importance, Nigeria has a significant opportunity to mobilise more domestic and international capital towards businesses, infrastructure and sustainable growth”. He said. Also Read: After France unrest, Italy tightens security amid violent protests in Milan “We have seen how sustained capital market development can help create conditions for greater capital mobilisation. In Zambia and Ethiopia, our support to strengthen the country’s financial market architecture and address key regulatory and market constraints, helped lay the foundations for greater capital mobilisation, including into sectors such as renewable energy.” He added. FSD Africa’s support has focused on strengthening the link between capital-market development and Nigeria’s wider economic priorities, including infrastructure, SME growth, financial inclusion and sustainable development. NCMMP 2.0 seeks to position capital markets as a driver of wider economic transformation, helping to channel long-term capital towards national priorities including infrastructure, energy, climate resilience, SMEs, financial inclusion and job creation. To support these ambitions, proposed reforms include measures making it easier for businesses and state governments to raise capital, expand retail and diaspora participation, attract more foreign institutional investors, strengthen sustainable finance, and support the development of digital and tokenised assets. The Masterplan is structured around five pillars covering regulatory clarity and enforcement, modernising market infrastructure, broadening the range of issuers and financial instruments, diversifying the investor base, and strengthening institutional and professional capacity. Each pillar is supported by a sequenced implementation plan with clear ownership, timelines and measures of success. It also builds on lessons from the previous Capital Market Masterplan, which supported a number of significant reforms while leaving areas for further progress. The earlier plan achieved an overall activity completion rate of 63%, with financial inclusion, regional integration, sustainable finance and the mobilisation of capital to priority sectors among the areas identified for continued progress. The Masterplan also sets out ambitions to strengthen Nigeria’s regional role through greater cooperation with other African markets, cross-border capital raising and listing frameworks, and closer alignment with initiatives under the African Continental Free Trade Area.

Nigeria has launched a ten-year capital market roadmap and a national savings plan to mobilise investment, strengthen financial markets and support its ambition to build a $1 trillion economy by 2030.

Nigeria unveils ten-year capital markets plan and national savings plan to support $1 trillion economy ambition

The Telecom Sector Sustainability Forum (TSSF) 7.0 has once again brought to the fore the current reality of Nigeria’s obsolete telecom infrastructure and the need for smarter plans to develop new technologies and attract more investment.The event, which took place in Lagos on Wednesday, September 16, 2026, was attended by policymakers, regulators, operators, investors, innovators, and industry experts in the telecom industry.<h2>Telecom Now Backbone of Digital Economy — Convener</h2>In her opening remarks, the Convener, Bukola Olarewaju, highlighted that telecommunications is no longer simply an enabler of communication but a fundamental pillar of Nigeria’s data-driven digital economy, supporting financial services, e-commerce, healthcare, education, governance, innovation, and virtually every aspect of modern technology.According to Olarewaju, “Sustaining the progress requires us to confront some difficult realities that can stall existing goals in the industry: the rising infrastructure cost, foreign exchange pressures, high financing cost, energy expenses, inflation and the increasing cost of network deployment.”She stressed that demand for reliable connectivity continues to rise as businesses, government and citizens become increasingly dependent on digital services.“It is on this premise of recent industry concerns over the cost of financing and maintaining network infrastructure that the urgency of the theme, ‘Rethinking Nigeria’s Digital Infrastructure Strategy to Attract Investment and Drive Innovation,’ has become imperative to discuss,” she said.Olarewaju pointed out that this year’s theme, which seeks to deepen Nigeria’s digital infrastructure strategy to attract investments and drive innovation, is timely and deliberate.“The question before us is not whether Nigeria needs more digital infrastructure — invariably we do — but more importantly, how do we create the right environment to attract the capital required to build, maintain and expand that infrastructure sustainably?” she queried.<h2>We Don’t Licence GSM, We Licence Spectrum — Engr. Nnamani</h2>Speaking while presenting the lead paper titled “Enabler of Digital Infrastructure Development and Investment,” the Chief Executive Officer (CEO) of Digital Realty Nigeria and Co-Chair of the National Sovereign Investment (NSI) Technical Working Group, Engr. Ike Nnamani, declared that digital infrastructure is evolving based on the way service providers see it.He revealed that Nigeria never issued any Global System for Mobile Communications (GSM) licence, but what the Nigerian Communications Commission (NCC) issued was a Digital Mobile Licence.“The regulators issue spectrum, they don’t licence service. What you do with the spectrum they give you is up to you, based on the technology you decide to adopt,” he said.Nnamani disclosed that MTN, which is widely regarded as the biggest telecom operator in Africa from a mobile telephony standpoint, does not see itself as a traditional mobile operator. Rather, according to him, MTN has decided to set up a subsidiary to go into data centres.“The biggest plan for MTN is to go into cloud services. They are actually looking at the emerging cloud service as their biggest business going forward,” he revealed.Engr. Nnamani noted that all those we see today as hyperscalers who truly run the digital infrastructure and make it happen are not the traditional players we know. They emerged and were able to rule the world because of their ability to embrace modern emerging technology and dominate in it.“The big names like Amazon and Apple are not traditional telephony service providers. We should be asking ourselves, in another 10 years, who are going to be the market leaders?” he asked.Citing data from a graph, Engr. Nnamani further explained that from a telephony standpoint, Nigeria is perceived as the biggest market in Africa in line with its population, but even within Africa, the flow of internet traffic between Nigeria and South Africa is way smaller compared to the traffic between South Africa and Kenya.“This is so because the Kenya market is more digitised than the Nigerian market,” he explained.Nnamani also informed participants that Nigeria was officially announced to have a digital economy by the late President Muhammadu Buhari on Democracy Day, May 29, 2023. However, he noted that without having local cloud infrastructure, all data would be piped through submarine cables and stored elsewhere.He declared that the National Information Technology Development Agency (NITDA) set up a Technical Working Group to ensure that government services are based on a Cloud-First policy.“For instance, if one wants to host data belonging to Nigerians, it should be sitting in a geographical space within Nigeria,” he said.According to him, NITDA has developed a National Sovereign Cloud Initiative to localise cloud services and ensure that cloud operations are domiciled in Nigeria.<h2>Quality Customer Experience Key</h2>Corroborating Engr. Nnamani’s position, Engr John Nwachukwu, Chief Strategy/Executive Officer (CSEO) of Zoracom Communications Limited, clarified that network operators are now more reliant on cable connectivity, rolling out fibre even to homes.“If you have a quality customer experience, you will ensure your customers are happy by bringing in solutions,” he pointed out.On his part, Mr. Chidi Ajuzie, Chief Operating Officer (COO) of WTES Group, said Nigeria has 90 percent mobile penetration, but broadband penetration is still 67 percent based on current data from the NCC.“This means that the real broadband we need for the digital economy is still a long way off,” Ajuzie said.Earlier in his goodwill message, Mr. Ajibola Olude, General Secretary and Chief Operating Officer of Association of Telecommunications Companies of Nigeria ATCON, said focus must extend beyond connectivity statistics to measurable outcomes that improve lives and strengthen the economy.He emphasised the need to develop a pipeline of skilled, industry-ready digital professionals who can meet the demands of Nigeria’s technology ecosystem.He also stressed that rural inclusion is critical, because a majority of rural communities are still not connected.“For growth to thrive, we need to enable digital businesses to emerge, expand and create meaningful employment opportunities across Nigeria,” Ajibola said.<h2>Tell Our Success Stories Too — ALTON Chairman</h2>On his part, the National Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), Engr. Gbenga Adebayo, said problems and challenges will never end.He noted that while forums like TSSF discuss challenges and needs, operators must also tell their success stories because no one will do it for them.“As we look at sustainability and the progress of the future, we must remember to talk about the work we have done and the sacrifices made that are enhancing society everywhere,” he said.Adebayo cited the recent initiative by ALTON members to provide zero-rated access to professional and educational websites as an example of industry contributions that have positively impacted many Nigerians.The summit, which was intelligently moderated by WIONEWS Nigeria Correspondent, Louisa Olaniyi, concluded with an insightful panel session that had Engr John Nwachukwu of Zoracom, Mr Chidi Ajuzie of WTES, Rosalin Ilori of Bridge 57 Solutions, Dr. Olusola Teniola of IPNX who joined virtually, &nbsp;Mr. Wasiu Oluwole of Cedarview Communication, Mr Akinyele Oludare of Impulso integrated services, and Mr Debo Daudu of Infratel Africa.The panellists unanimously agreed that Nigeria must rethink its infrastructure strategy, harmonise policies, encourage infrastructure sharing, resolve power and Right of Way (RoW) challenges, and create a sustainable, investor-friendly environment that will drive innovation and secure the future of its digital economy. &nbsp;

Engr. Nnamani noted that all those we see today as hyperscalers who truly run the digital infrastructure and make it happen are not the traditional players we know. They emerged and were able to rule the world because of their ability to embrace modern emerging technology and dominate in it.

The Telecom Sector Sustainability Forum (TSSF) 7.0 has once again brought to the fore the current reality of Nigeria’s obsolete telecom infrastructure and the need for smarter plans to develop new technologies and attract more investment. The event, which took place in Lagos on Wednesday, September 16, 2026, was attended by policymakers, regulators, operators, investors, innovators, and industry experts in the telecom industry. Telecom Now Backbone of Digital Economy — Convener In her opening remarks, the Convener, Bukola Olarewaju, highlighted that telecommunications is no longer simply an enabler of communication but a fundamental pillar of Nigeria’s data-driven digital economy, supporting financial services, e-commerce, healthcare, education, governance, innovation, and virtually every aspect of modern technology. According to Olarewaju, “Sustaining the progress requires us to confront some difficult realities that can stall existing goals in the industry: the rising infrastructure cost, foreign exchange pressures, high financing cost, energy expenses, inflation and the increasing cost of network deployment.” She stressed that demand for reliable connectivity continues to rise as businesses, government and citizens become increasingly dependent on digital services. “It is on this premise of recent industry concerns over the cost of financing and maintaining network infrastructure that the urgency of the theme, ‘Rethinking Nigeria’s Digital Infrastructure Strategy to Attract Investment and Drive Innovation,’ has become imperative to discuss,” she said. Olarewaju pointed out that this year’s theme, which seeks to deepen Nigeria’s digital infrastructure strategy to attract investments and drive innovation, is timely and deliberate. “The question before us is not whether Nigeria needs more digital infrastructure — invariably we do — but more importantly, how do we create the right environment to attract the capital required to build, maintain and expand that infrastructure sustainably?” she queried. We Don’t Licence GSM, We Licence Spectrum — Engr. Nnamani Speaking while presenting the lead paper titled “Enabler of Digital Infrastructure Development and Investment,” the Chief Executive Officer (CEO) of Digital Realty Nigeria and Co-Chair of the National Sovereign Investment (NSI) Technical Working Group, Engr. Ike Nnamani, declared that digital infrastructure is evolving based on the way service providers see it. He revealed that Nigeria never issued any Global System for Mobile Communications (GSM) licence, but what the Nigerian Communications Commission (NCC) issued was a Digital Mobile Licence. “The regulators issue spectrum, they don’t licence service. What you do with the spectrum they give you is up to you, based on the technology you decide to adopt,” he said. Nnamani disclosed that MTN, which is widely regarded as the biggest telecom operator in Africa from a mobile telephony standpoint, does not see itself as a traditional mobile operator. Rather, according to him, MTN has decided to set up a subsidiary to go into data centres. “The biggest plan for MTN is to go into cloud services. They are actually looking at the emerging cloud service as their biggest business going forward,” he revealed. Engr. Nnamani noted that all those we see today as hyperscalers who truly run the digital infrastructure and make it happen are not the traditional players we know. They emerged and were able to rule the world because of their ability to embrace modern emerging technology and dominate in it. “The big names like Amazon and Apple are not traditional telephony service providers. We should be asking ourselves, in another 10 years, who are going to be the market leaders?” he asked. Citing data from a graph, Engr. Nnamani further explained that from a telephony standpoint, Nigeria is perceived as the biggest market in Africa in line with its population, but even within Africa, the flow of internet traffic between Nigeria and South Africa is way smaller compared to the traffic between South Africa and Kenya. “This is so because the Kenya market is more digitised than the Nigerian market,” he explained. Nnamani also informed participants that Nigeria was officially announced to have a digital economy by the late President Muhammadu Buhari on Democracy Day, May 29, 2023. However, he noted that without having local cloud infrastructure, all data would be piped through submarine cables and stored elsewhere. He declared that the National Information Technology Development Agency (NITDA) set up a Technical Working Group to ensure that government services are based on a Cloud-First policy. “For instance, if one wants to host data belonging to Nigerians, it should be sitting in a geographical space within Nigeria,” he said. According to him, NITDA has developed a National Sovereign Cloud Initiative to localise cloud services and ensure that cloud operations are domiciled in Nigeria. Quality Customer Experience Key Corroborating Engr. Nnamani’s position, Engr John Nwachukwu, Chief Strategy/Executive Officer (CSEO) of Zoracom Communications Limited, clarified that network operators are now more reliant on cable connectivity, rolling out fibre even to homes. “If you have a quality customer experience, you will ensure your customers are happy by bringing in solutions,” he pointed out. On his part, Mr. Chidi Ajuzie, Chief Operating Officer (COO) of WTES Group, said Nigeria has 90 percent mobile penetration, but broadband penetration is still 67 percent based on current data from the NCC. “This means that the real broadband we need for the digital economy is still a long way off,” Ajuzie said. Earlier in his goodwill message, Mr. Ajibola Olude, General Secretary and Chief Operating Officer of Association of Telecommunications Companies of Nigeria ATCON, said focus must extend beyond connectivity statistics to measurable outcomes that improve lives and strengthen the economy. He emphasised the need to develop a pipeline of skilled, industry-ready digital professionals who can meet the demands of Nigeria’s technology ecosystem. He also stressed that rural inclusion is critical, because a majority of rural communities are still not connected. “For growth to thrive, we need to enable digital businesses to emerge, expand and create meaningful employment opportunities across Nigeria,” Ajibola said. Tell Our Success Stories Too — ALTON Chairman On his part, the National Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), Engr. Gbenga Adebayo, said problems and challenges will never end. He noted that while forums like TSSF discuss challenges and needs, operators must also tell their success stories because no one will do it for them. “As we look at sustainability and the progress of the future, we must remember to talk about the work we have done and the sacrifices made that are enhancing society everywhere,” he said. Adebayo cited the recent initiative by ALTON members to provide zero-rated access to professional and educational websites as an example of industry contributions that have positively impacted many Nigerians. The summit, which was intelligently moderated by WIONEWS Nigeria Correspondent, Louisa Olaniyi, concluded with an insightful panel session that had Engr John Nwachukwu of Zoracom, Mr Chidi Ajuzie of WTES, Rosalin Ilori of Bridge 57 Solutions, Dr. Olusola Teniola of IPNX who joined virtually, Mr. Wasiu Oluwole of Cedarview Communication, Mr Akinyele Oludare of Impulso integrated services, and Mr Debo Daudu of Infratel Africa. The panellists unanimously agreed that Nigeria must rethink its infrastructure strategy, harmonise policies, encourage infrastructure sharing, resolve power and Right of Way (RoW) challenges, and create a sustainable, investor-friendly environment that will drive innovation and secure the future of its digital economy.

Engr. Nnamani noted that all those we see today as hyperscalers who truly run the digital infrastructure and make it happen are not the traditional players we know. They emerged and were able to rule the world because of their ability to embrace modern, emerging technology and dominate in it.

Without local cloud, Nigeria's data will remain abroad: Engr. Nnamani warns industry leaders at TSSF 7.0

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Nigeria unveils ten-year capital markets plan and national savings plan to support $1 trillion economy ambition

Without local cloud, Nigeria's data will remain abroad: Engr. Nnamani warns