Stockbrokers back N750trn market cap target after year of reforms
- CIS and ASHON praised Nigeria's capital market gains in 2026, including a T+1 settlement cycle and FTSE Russell frontier status.
- They backed the SEC's push for a N750 trillion market capitalisation and the new National Savings Scheme.
- The Dangote refinery IPO, extended to October 27, was called a defining moment for the market.
Nigeria's stockbrokers and securities dealers have thrown their weight behind the push for a N750 trillion market capitalisation, saying the reforms of 2026 have made the target look achievable.
The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) made the call in a joint congratulatory message signed by CIS president Fiona Ahimie and ASHON chairman Sehinde Adenagbe.
For everyday Nigerians, the message is simple: the market is trying to pull in more small investors, not just big institutions. A deeper market could give savers another place to put money and give businesses a way to raise long-term funds without relying only on bank loans.
What the market bodies are celebrating
The two bodies listed several milestones from the year. They include the Nigerian Exchange Limited being named Africa's Best Exchange, the launch of the Nigerian Capital Market Master Plan 2.0, and the start of the National Savings Scheme.
They also pointed to Nigeria's move to a T+1 settlement cycle on June 1, 2026. In plain terms, shares and cash now change hands a day after a trade instead of two, which the bodies said cuts counterparty risk and lets investors use their money sooner.
Another highlight was Nigeria's return to FTSE Russell Frontier Market status. CIS and ASHON said better market access, foreign exchange liquidity, capital repatriation and regulatory transparency could draw more foreign investors back.
They praised the Securities and Exchange Commission (SEC) for its regulatory leadership and the Federal Ministry of Finance for working with the SEC to launch the National Savings Scheme, which they said could boost financial inclusion and retail investment.
The bodies described the ongoing initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals as a defining moment, showing the market can raise large sums for big companies while letting ordinary Nigerians buy in. The offer has been extended to October 27, 2026.
What happens next
CIS and ASHON warned that the gains will not hold on their own. They called for stronger retail participation, better investor protection, more technology, high ethical standards and a friendlier business environment.
They also said the National Savings Scheme will only work with effective implementation, steady collaboration among institutions and wide public awareness.
The two bodies urged regulators, market operators, government agencies, issuers and investors to keep working together so that rising valuations turn into real investment, jobs and growth.
