Lagos State Governor, Babajide Sanwo-Olu, has urged the Chartered Institute of Stockbrokers to intensify efforts to improve financial literacy and encourage more Nigerians to invest in the capital market, saying wider participation is essential to unlocking the country’s wealth-creation potential.
Sanwo-Olu made the call on Friday when the President and Chairman of the Council of the Chartered Institute of Stockbrokers, Dr Fiona Ahimie, led other principal officers of the institute on a courtesy visit to Lagos House, Ikeja.
The governor said Nigeria’s capital market had recorded significant growth but stressed that more Nigerians needed to understand how to access investment opportunities and build long-term financial security.
He noted that many people remained focused on meeting their immediate financial needs without fully exploring savings and investment options that could help them grow their wealth.
Sanwo-Olu called for sustained public education to bridge the gap between available investment opportunities and the number of Nigerians participating in the market.
He said expanding financial literacy would help people make informed financial decisions while strengthening the capital market’s contribution to economic growth.
Beyond market growth, the challenge is public participation
The governor’s remarks highlight a persistent challenge for Nigeria’s financial sector: market development does not automatically translate into widespread investment participation.
For many households, limited financial knowledge, irregular incomes and concerns about investment risks can make the capital market appear inaccessible. Expanding participation, therefore, requires more than creating investment products; it also demands practical education that helps ordinary Nigerians understand how to invest, assess risks and protect their money.
Sanwo-Olu’s call places financial literacy at the centre of efforts to make the capital market more accessible, particularly to young people and those who have yet to explore investment opportunities beyond traditional savings.
The governor pledged his administration’s support for initiatives aimed at improving financial literacy and developing the professional workforce needed to strengthen the market.
He also congratulated Ahimie on her emergence as the first female president of the Chartered Institute of Stockbrokers, describing her appointment as a significant milestone for the institution.
Sanwo-Olu expressed confidence in her leadership and urged the new council to build on the institute’s achievements by advancing professional standards, public engagement and capacity development.
He added that Lagos remained committed to supporting professional institutions and economic activities capable of attracting investment, creating jobs and expanding opportunities for residents.
The governor also emphasised the importance of professional expertise in governance, noting that stronger collaboration between public officials and private-sector practitioners could improve institutional effectiveness and strategic planning.
Speaking earlier, Ahimie congratulated Sanwo-Olu on his association with the institute, saying his professional background and experience in public service made the engagement particularly significant.
She announced that the institute’s annual conference, scheduled for November 4 and 5 in Lagos, would provide a platform for stakeholders to discuss the development of Nigeria’s capital market and strategies for expanding financial literacy and investment participation.
Ahimie also disclosed that the institute was collaborating with the Office of the Vice President on an initiative to train 10 million Nigerians in financial literacy and capital market participation.
According to her, the programme aims to improve public understanding of investment opportunities and encourage more Nigerians, especially young people, to participate in the market.
She further revealed that the institute was working towards establishing a N5bn endowment fund to support professional training and capacity development.
The proposed fund is expected to strengthen the institute’s efforts to develop skilled professionals and improve expertise within Nigeria’s capital market.
The initiative to train 10 million Nigerians, alongside the proposed endowment fund, signals an effort to address two related needs: equipping citizens with the knowledge to make informed financial decisions and building the professional capacity required to sustain market development.
However, the broader impact of such efforts will depend on how effectively financial education reaches people outside established investment circles and translates into informed, sustained participation.
For Lagos, which remains a major centre of Nigeria’s financial and commercial activities, deeper collaboration between the state government and professional institutions could help strengthen investment awareness and support broader economic development.
