Key points
- Nigeria’s Assets Under Management increased significantly from N3.2 trillion to N10 trillion within a two year period.
- Total domestic and foreign portfolio investments on the Nigerian Exchange Ltd. reached N1.803 trillion in April 2026.
- The overall market contribution to Nigeria’s Gross Domestic Product increased to 33 per cent in 2025.
- The transition to a faster T+1 settlement cycle will place operational pressure on smaller firms to automate back-office processes.
- The Securities and Exchange Commission will officially launch the Nigerian Capital Market Master Plan 2.0 between June and July.
Main Story
Nigeria’s Assets Under Management (AUM) have risen significantly from N3.2 trillion to N10 trillion within the past two years, according to the Securities and Exchange Commission (SEC).
The Director-General of the SEC, Dr Emomotimi Agama, disclosed this on Monday in Lagos during an event marking Nigeria’s transition to the T+1 settlement cycle.
He said the growth reflected increased investor confidence and the positive impact of ongoing reforms in the Nigerian capital market.
Agama noted that the market had recorded several historic milestones in recent months, including strong growth in market capitalisation.
He said domestic and foreign portfolio investments on the Nigerian Exchange Ltd. (NGX) rose to N1.803 trillion in April 2026.
He described the figures as unprecedented and a clear sign of the market’s strengthening performance.
According to him, the capital market’s contribution to Nigeria’s Gross Domestic Product rose to 33 percent in 2025.
He also stated that market capitalisation increased by 125 percent, rising from about N55 trillion in April 2024.
Agama added that foreign participation in Nigerian equities rose from 9.9 percent in 2023 to 22.2 percent in 2025, describing it as a significant recovery.
He said despite the strong performance, there was still room for further improvement.
The SEC Director-General also said the transition to the T+1 settlement cycle would enhance efficiency, improve liquidity and strengthen Nigeria’s position in global markets.
He noted that the shorter settlement cycle would place pressure on smaller operators to upgrade systems, automate processes and strengthen back-office operations.
Agama stressed that trade confirmations, reconciliations and funding decisions must now be completed more quickly under the new regime.
He added that the entire capital market ecosystem must adapt to a faster and more efficient settlement structure.
He also announced that the SEC would launch the Nigerian Capital Market Master Plan 2.0 between June and July.
The Issues
- Upgrading smaller market participants who rely on legacy setups and manual workflows to avoid settlement delays.
- Closing the existing structural gaps in foreign equity investment despite the recent meaningful recovery trends.
- Managing the heightened systemic pressure placed on trade confirmations and funding decisions under the shorter settlement timeline.
What’s Being Said
- Highlighting the rapid expansion of managed funds alongside historic milestones, Dr Emomotimi Agama stated: “The Nigerian capital market has recorded historic milestones. Within two years, the nation’s AUM grew from N3.2 trillion to N10 trillion.”
- Detailing a specific period of aggressive expansion within the domestic exchange, Agama noted: “In February 2026 alone, market capitalisation expanded by N17.6 trillion, representing the highest single-month gain in the market’s history,”
- Outlining the macro transaction volumes recorded over the initial third of the year compared to previous metrics, he added: “For the first four months of 2026, total market transactions reached N5.952 trillion, more than double the N2.714 trillion recorded in 2025,”
- Contextualizing the ongoing strategic role of the newly adopted trade cycle in narrowing global investment disparities, he observed: “However, there is still significant room to close the gap, and T+1 is one of the most important tools available to achieve that,”
What’s Next
- Capital market operators will automate their workflows to comply with the swift demands of the T+1 settlement environment.
- The regulatory commission will complete its final preparations to launch the Nigerian Capital Market Master Plan 2.0 between June and July.
- Registrars, stockbrokers, and custodians will accelerate their trade confirmation and reconciliation timelines to eliminate delays.
Bottom Line
Driven by regulatory reforms that pushed capital market contributions to 33 per cent of national GDP, Nigeria’s Assets Under Management expanded to N10 trillion within two years as the SEC implements a swift T+1 settlement cycle and prepares to launch its Capital Market Master Plan 2.0.
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