Fewer Than 4% of Nigerians Invest in Equities – How to Close the Trust Gap

Fewer than four in every hundred Nigerians invest in shares. The Securities and Exchange Commission’s Director-General, Emomotimi Agama, flagged this during a review of the Capital Market Masterplan (2015–2025). 

The figure shows a clear trust gap: many people will risk money on betting and lotteries but avoid regulated investing that can grow wealth over time. 

It also reveals how financial education has not kept pace with mobile access and investing apps.

Make Onboarding Simple, Safe, and Local

Fixing this starts with easier sign-up. KYC should be fast, fully digital, and available in major local languages.

Fractional investing must be standard so beginners can start small and add regularly. Clear, tax-friendly, long-term options, like low-fee index funds, help new investors stay the course. Trust also depends on visible enforcement. 

When there’s manipulation or insider trading, regulators should act quickly and publicly, with penalties strong enough to deter others. Brokers must put safety first: plain-English risk warnings, goal trackers, default savings plans, spending limits, and transparent fees matter more than shiny features.

Build Habits, Not Hype

The real measure of progress is not app downloads, it’s funded, recurring contributions, like systematic investment plans. Access must meet people where they are: USSD and agent networks can let customers buy small amounts weekly, just like airtime. 

Employers can auto-enrol staff into low-cost plans with an easy opt-out. Schools, churches, and community groups can host short, practical lessons on compounding, diversification, and time in the market. Keep investing simple, safe, and fair, and the trust gap will start to close.