Nigeria must leverage its demographic advantage to advance financial inclusion through investments by 2030 for national survival, the Securities and Exchange Commission (SEC) has said.
The Director-General of the SEC, Dr Emomotimi Agama, said at the United Capital Asset Management Investment forum on Wednesday in Lagos that this was the only way to avoid deepening inequality in the system.
Agama stated this in his keynote address titled: “Advancing Financial Inclusion through Investments: Bridging Nigeria’s Knowledge and Wealth Gap.”
He said the theme of the Forum, “Advancing Financial Inclusion through Investments”, was not aspirational, but foundational to national survival.
“We stand at a pivotal moment. By 2030, Nigeria can either harness its demographic dividend or face deepening inequality. The knowledge-wealth gap is not merely an economic challenge, it is a moral imperative,” Agama said.
The term inclusion, the DG said, should be reframed as active financial involvement, where access meets empowerment, and capital becomes a tool for transformation, adding that closing the financial inclusion gender gap could lift 700,000 Nigerians from poverty.
“Nigeria has a great population, yet we have a tiny drop of this number of persons involved in the capital market. That’s one reason for poverty, because we are running from money. We have to do something. Our market capitalisation is an opportunity to do something.
“We need to change the narrative and move the market forward. We must reach out to make the difference. We are committed to protecting investors and developing the market. Our goal is to do the right thing no matter whose ox is gored. We will work by the principles of fairness and equity to change the market. We will provide a fair ground for everyone to aspire,” he said.
Citing the example of MTN Nigeria’s share offering, he said out of about 150,000 new investors it drew, 75 percent were women, with 85 percent under the 40 years bracket.
To bridge the gap, Agama recommended a four-pillar strategy that focuses on democratisation of financial knowledge, catalyzing of micro, small and medium enterprises (MSME) investment channels, blended finance vehicles, and partnership with Bank of Industry (BOI) to de-risk loans for women-led SMEs.
“We need to educate people about finances. As we drive this market, we do so for a purpose, I enjoin everyone to be the disciple and the apostles. Getting this market to move is a deliberate action,” he said.
