The Securities and Exchange Commission has announced plans to review its regulatory framework to encourage the listing of Small and Medium Enterprises on Nigeria’s stock exchanges, in a move aimed at deepening the capital market and stimulating long-term economic growth.
The Director-General of the Commission, Emomotimi Agama, said the rules review would prioritise incentives for small and medium-scale businesses, particularly in manufacturing, automotive, pharmaceuticals and finished goods. According to him, improved access to long-term capital through the capital market would help revive idle factories, reduce Nigeria’s dependence on imports, create jobs and strengthen the global competitiveness of Made-in-Nigeria products.
Agama said the SME-focused reforms form part of a broader strategy to reposition the capital market as a reliable funding engine for the economy. He explained that the Commission would intensify efforts to mobilise long-term capital to close Nigeria’s infrastructure and sectoral financing gaps, while simplifying regulatory processes and promoting innovative financial instruments that can channel patient capital into productive sectors.
Looking ahead to 2026, the SEC plans to facilitate the issuance of infrastructure bonds, green bonds, municipal bonds and infrastructure-focused funds to attract both domestic and foreign investors. Agama said these instruments would support financing for roads, power, rail, housing and digital infrastructure, while making it easier for state governments and infrastructure companies to raise funds efficiently from the market.
The Commission also plans to expand capital market access for agribusinesses by promoting the listing of agricultural firms and introducing tailored windows for cooperatives and value-chain companies. Through commodity exchanges, agricultural investment trusts and commodities-linked instruments, Agama said the market would help reduce risk in the sector, improve pricing transparency for farmers, strengthen food security and broaden citizen participation in agricultural investment.
In the housing sector, the SEC plans to revitalise Real Estate Investment Trusts and introduce innovative affordable housing bonds to unlock funding for mass housing delivery. According to Agama, these initiatives would create new investment opportunities, expand asset classes available to investors, and move more Nigerians closer to home ownership.
The Commission also intends to support Nigeria’s power sector through capital market instruments such as infrastructure bonds, green energy bonds, project-backed securities, and public-private investment vehicles to fund grid expansion, renewable energy projects, and the country’s energy transition goals.
Agama said the SEC is entering 2026 with renewed determination to position the capital market as a practical solution to Nigeria’s economic and development challenges, adding that the goal is to transform the market into a major driver of sustainable growth, enterprise expansion, and long-term investment.
