The Securities and Exchange Commission (SEC) has emphasized the urgent need for Nigeria to leverage its large and youthful population to boost financial inclusion through increased investment participation by 2030 — or risk widening inequality and economic stagnation.
Speaking at the United Capital Asset Management Investment Forum on Wednesday in Lagos, the Director-General of the SEC, Dr. Emomotimi Agama, delivered a keynote address titled “Advancing Financial Inclusion through Investments: Bridging Nigeria’s Knowledge and Wealth Gap.”
He described financial inclusion not as an aspirational goal, but as a fundamental requirement for national survival.
“We stand at a pivotal moment,” Agama said. “By 2030, Nigeria can either harness its demographic dividend or face deepening inequality. The knowledge-wealth gap is not just an economic challenge—it is a moral imperative.”
Agama called for a redefinition of financial inclusion as “active financial involvement,” where access translates into empowerment and capital becomes a tool for transformation. He noted that bridging the gender gap in financial access alone could lift 700,000 Nigerians out of poverty.
Citing MTN Nigeria’s share offering, which attracted 150,000 new investors—75% of them women and 85% under the age of 40—Agama argued that the capital market holds immense untapped potential.
He said: “Nigeria has a huge population, yet only a tiny fraction is involved in the capital market,” he said. “That’s part of the reason for persistent poverty—we are avoiding money. We must act now.”
To drive inclusion and market expansion, Agama proposed a four-pillar strategy: Democratization of financial knowledge; Catalyzing MSME investment channels; Establishing blended finance vehicles and Partnering with institutions like the Bank of Industry (BOI) to de-risk loans for women-led SMEs.
He urged stakeholders to be “disciples and apostles” of financial education and inclusion. “We are committed to protecting investors and developing the market based on fairness and equity. Everyone should have a level playing field to aspire and thrive,” he added.
Sunday Michael Ogwu is a Nigerian journalist and editor of Pinnacle Daily. He is known for his work in business and economic reporting. He has held editorial roles in prominent Nigerian media outlets, where he has focused on economic policy, financial markets, and developmental issues affecting Nigeria and Africa more broadly.