The Securities and Exchange Commission and Financial Sector Deepening Africa have commenced a joint review of Nigeria’s 10-year Capital Market Master Plan to support the nation’s economic resilience amid new economic challenges including lower oil prices and the COVID-19 pandemic.
The CMMP provides a vision for Nigeria’s capital market as well as a roadmap with objectives to meet it. This will result in the introduction of more stringent tools to measure the plan’s progress against objectives and the inclusion of new challenges, opportunities and risks related to the current environment into the plan.
These include the effects of lower oil prices on Nigeria’s economy as well as a slowdown in economic activity due to the COVID-19 pandemic. The introduction of new initiatives and products will help to improve the liquidity and depth of Nigeria’s capital markets.