The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has outlined how the Federal Capital Territory Administration (FCTA) can leverage Nigeria’s capital market to raise long-term funds for critical infrastructure projects instead of relying solely on annual budgetary allocations. Read Also: SEC Holds Abuja Investor Clinic On Unclaimed Capital Market AssetsADVERTISEMENT“A budget can only spend what a single year has collected. He also called on the FCT to pioneer a regulated tokenised municipal bond programme that would allow citizens to invest as little as ₦10,000 through mobile phones in specific infrastructure projects. Agama disclosed that Nigeria’s capital market has grown significantly, with total market capitalisation exceeding N217 trillion as of May 2026, comprising about N160.5 trillion in equities and N56.7 trillion in bonds. He added that Nigeria’s capital market remains critical to mobilising domestic savings for national development, insisting that “money is not scarce; delivery capacity is scarce, and financing follows delivery capacity.”