As Nigeria marks its 65th Independence Anniversary, the Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has emphasized the need for the nation to pursue true financial independence by deepening its capital market.
Speaking in Abuja on Wednesday, Yuguda noted that while Nigeria has made notable progress in governance, technology, and infrastructure, economic challenges continue to hinder the nation’s full potential. He stressed that harnessing the capital market would provide long-term funding for businesses, drive industrialization, and reduce dependence on foreign loans.
“Financial independence is as crucial as political sovereignty,” the SEC boss said. “A well-functioning capital market ensures that citizens and businesses have access to funding that can stimulate innovation, create jobs, and sustain economic growth. Nigeria cannot continue to rely heavily on debt; we must mobilize local and international investments through our market system.”
Yuguda explained that the SEC has been implementing reforms to improve transparency, investor protection, and digital integration in the market. He urged more Nigerians to embrace investment opportunities beyond traditional banking, highlighting that small and medium-sized enterprises (SMEs) stand to benefit greatly from expanded access to capital.
He also called on the government to provide enabling policies that will strengthen investor confidence, attract diaspora inflows, and position Nigeria as a leading investment hub in Africa.
“As we celebrate 65 years of independence, let us also resolve to build an economy that is less vulnerable to external shocks. The capital market is central to achieving this goal,” Yuguda added.
The SEC pledged to continue collaborating with stakeholders in the financial sector to create a robust market that supports Nigeria’s developmental aspirations.
