Nigeria must urgently harness its demographic dividend to advance financial inclusion through strategic investments by 2030, or risk escalating inequality, the Securities and Exchange Commission (SEC) has warned.
Speaking at the United Capital Asset Management Investment forum in Lagos recently, Emomotimi Agama, director-general of the SEC, delivered a message in his keynote address titled “Advancing Financial Inclusion through Investments: Bridging Nigeria’s Knowledge and Wealth Gap.”
“Our theme, Advancing Financial Inclusion through Investments, is not aspirational; it is foundational to national survival,” Agama stated. He emphasised the critical juncture facing the nation: “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,” he stated.
Agama advocated for reframing inclusion as active financial involvement, where access translates into empowerment and capital serves as a tool for transformation. He added that bridging the financial inclusion gender gap alone could lift 700,000 Nigerians out of 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,” Agama asserted, pointing to the nation’s market capitalisation as a key opportunity. He underscored the SEC’s commitment to investor protection and market development, vowing to operate with principles of fairness and equity to create a level playing field for all.
Agama cited MTN Nigeria’s share offering as a success story, attracting 150,000 new investors, with 75 per cent being women and 85 per cent under the age of 40.
To bridge the existing gaps, Agama proposed a four-pillar strategy including democratisation of financial knowledge, catalysing MSME investment channels, creating avenues for micro, small, and medium enterprises to access investment, blended finance vehicles, partnering with institutions like the Bank of Industry (BOI) to de-risk loans, particularly for women-led SMEs.
“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,” Agama urged.
