The Securities and Exchange Commission (SEC) says the National Savings Scheme is designed to promote savings and future investments.

SEC director-general, Emomotimi Agama, said this in a notice issued by the commission on Wednesday in Abuja.

Mr Agama ‌⁠‍‍⁠⁠‌⁠‌‍⁠⁠‌‌‌said the scheme would be inaugurated on October 19 at the forthcoming National Capital Market Conference in Abuja.

He said tax incentives would be provided to encourage Nigerians to participate in the scheme.

The director-general said the initiative aligned with the federal government’s fiscal policy direction, including tax relief for citizens earning below a specified income threshold.

He said the scheme would enable citizens to have more disposable income.

“The National Savings Scheme is principally an inclusion tool, every Nigerian is given the opportunity to save, and those savings will be invested for the future,” Mr Agama said.

Mr Agama said the Nigerian Capital Market Master Plan 2.0 would also be inaugurated on the same day.

He described the master plan as a critical document for measuring the growth and development of the capital market.

Mr Agama said the forthcoming conference would focus on initiatives to enhance domestic resource mobilisation, strengthen investor participation and support sustainable economic growth.

He said the initiatives would also contribute to national development. 

(NAN)