The first half of 2026 marks a defining phase in the ongoing transformation of the Nigerian capital market (“NCM”). Building on the enactment of the Investments and Securities Act 2025 (“ISA 2025”), the Securities and Exchange Commission (“SEC”), market infrastructure institutions and other stakeholders have accelerated the implementation of a comprehensive reform agenda under the Nigerian Capital Market Strategy 2026, unveiled in January 2026. The Strategy is designed to deepen market participation, strengthen market institutions, improve operational efficiency, enhance investor protection and further position Nigeria as a leading Africa’s investment destination.
Prior to the launch of the Strategy, the transformation of the NCM had been guided by the Nigerian Capital Market Master Plan (2015–2025), a comprehensive blueprint developed by the SEC in collaboration with industry stakeholders and experts. The Master Plan was subsequently revised and rebranded as the Capital Market Strategy (2021–2025), which served as the principal roadmap for the
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