Caption: From left, Head, Information Technology, Securities and Exchange Commission (SEC) Lagos Zonal Office; Mr David Egbunu, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN), Mrs Chinyere Joel-Nwokeoma, Head Lagos Zonal Office, SEC, Mr John Briggs, CEO, Marble Capital Ltd; Dr. Akeem Oyewale, and , Head External Relations Department, SEC; Mrs Efe Ebelo, during 2024 SEC journalists Academy, in Lagos
Dr Akeem Oyewale, Chief Executive Officer of Marble Capital Limited, an investment banking group, on Tuesday in Lagos youth-friendly investment products must be carefully fashioned for the country to achieve Nigeria’s President Bola Tinubu’s target of a US$1tr economy in the next six years.
Recall that during the inauguration of his administration on May 29, last year, the President declared that his government aims to grow the size of Nigeria’s economy to $1tr by 2030, at an average annual GDP growth rate of 7%.
Oyewale, in his presentation titled “leveraging modern technology to attract youths to the capital market,” during the 2024 Securities & Exchange Commission (SEC) journalists Academy, in Lagos, with the theme: The role of the capital market in driving Nigeria’s $1 trillion economy, highlight the country’s enviable youth demographic.
According to him, “as of August 1, 2024, Nigeria’s population is just under 230 million, with youth comprising 70% which is about 160 million.”
Oyewale, however lamented that the country has over the years been unable to turn such potential into an advantage, as the youth participation in the Nigerian capital market remaining low, and many young people unaware
of investment opportunities.
He challenged capital market stakeholders to work towards making the country’s young population “a catalyst for innovation, entrepreneurship, and workforce development, crucial to achieving the $1tr economy goal.”
He noted that engaging youths in the capital market would ensure fresh perspectives, long-term financial growth, job creation and innovation, besides strengthening the market, making it dynamic and even technology-savy.
For this to happen within the time frame, the investment expert called for concerted efforts to break barriers to youth participation in the nation’s capital market, such as the lack of trust and the lack of simplified financial products and services.
He listed others are the lack of financial education and public awareness, as well as the economic challenges that remain a disincentive to savings and investment, made worse by regulatory and structural issues.
To overcome these challenges, he said modern technology can be leveraged to attract youths to the capital market, and in that way helping them contribute their quota to realising the $1tr goal.
Specifically, Oyewale called for the use of such digital platforms as mobile Apps that would ensure easy and accessible trading; promoting youth friendly investment products and services; and educating the youth through digital financial literacy. He also made a case for the use of Blockchain and Cryptocurrencies for innovative investments; in addition to government initiatives and regulatory support.
He also urged stakeholders to deploy social media platforms as powerful tool, given that “Nigeria has a high level of mobile phone and internet penetration, with over 40% of the population having access to the internet.
“Social media platforms like Instagram, Twitter, YouTube, and TikTok are heavily used by young Nigerians. This makes digital engagement and social media campaigns a powerful tool for promoting capital market participation.”
These, he said, include educational content and awareness campaigns, building online communities and mentorship, reducing barriers to entry for young investors, collaborations with financial institutions and brands, promoting investment and financial planning tools, and real-time market updates and trends.
He argued all to leverage fintech innovation to enhance accessibility and efficiency such as robo advisors which deploy algorithms to offer investment advise; peer-to-peer lending platforms that connect borrowers directly with lenders, thereby eliminating traditional banks as intermediaries, as well as micro investment platform which allow young Nigerians invest small amounts of money in diversified portfolios.
Tech products, such as mobile savings and investment Apps such as PiggyVest, Cowrywise, which offer automated savings, fixed-income investments, goal-based savings, and low-entry investment options, Oyewale argued, can also be deployed to reach Nigerian youths.
Others include fractional share investment platforms like Bamboo and Trove that allows people to invest in fractional shares of local and global stocks, Exchange Traded Funds and other assets with small amounts of money. There ared also Cryptocurrency investment platforms such as Luno, Quidax, Binance with such features as the opportunity to buy, sell and trade cryptocurrencies like Bitcoin and Ethereum on mobile, with SEC-licensed exchanges ensuring security and they comply with existing rules.
As a way forward, Oyewale challenged stakeholders to adopt technologies such as fintechs to improve accessibility and efficiency in the capital market; and push for policies that facilitate youth participation. Also, he called for programmes aimed at educating young people about financial literacy, investment strategies and capital markets, in addition to utilizing digital platforms and social media to reach and engage youth audiences.
Earlier in his opening remarks, the SEC DG, Dr. Emomotimi Agama, described the capital market as the engine that drives economic progress by channeling resources from savers to those who need capital for productive use and has helped countries across the globe to achieve economic milestones like industrialisation, infrastructure, and innovation through efficient resource mobilisation and allocation.
For Nigeria, he said the case cannot be different, as “a significant pathway to economic transformation lies in financing critical national projects, especially in infrastructure.”
Nigeria, he said, “has already demonstrated how the capital market can fund these needs through innovative instruments like sovereign bonds and a number of Sukuk.
“For example, the federal government has raised significant capital by issuing six Sukuk to fund road projects across the six geopolitical zones. This innovative funding approach reduced the reliance on external borrowing while driving job creation, improved logistics, and regional integration.
“The issuance of green bonds has further cemented the role of the capital market in supporting Nigeria’s transition to a low-carbon economy, addressing both infrastructure and environmental sustainability,” Agama stressed.
Beyond government financing, he said the capital market remains a vital enabler of private sector growth, with Nigerian companies utilising the market “to raise capital, expand operations, and compete globally. A prime example is MTN Nigeria, whose public offering in 2021 attracted significant local investor participation, broadening its shareholder base while showcasing the strength of our market.
“Additionally, the listing of firms like Dangote Cement and BUA Group underscores how the capital market supports industrial growth and job creation,” he added.
The total market capitalisation of the Nigerian Exchange Limited today, he believes, is a testament to the growing role of the private sector in driving national economic outcomes.
“One of the most remarkable opportunities within the capital market is its ability to democratise wealth creation. Through vehicles like collective investment schemes (CIS), retail bonds, and exchange-traded funds (ETFs), the market provides access to financial products for Nigerians across income levels.
