Chinwendu Obienyi
Nigeria stands a chance to experience more economic growth and transformation only if there is deeper collaboration between the government and capital market operators.
This was the view of the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, during the closing bell on the floor of the Nigerian Stock Exchange (NSE) on Monday in Lagos.
Enelamah noted that the partnership should be robust in order to transcend various government administrations and impact on job and wealth creation, economic growth and development.
He added that there was a need for government to forge synergy with the private sector toward exploring opportunities of raising capital through the market for government’s infrastructure projects and to deepen industrialisation.
Also speaking at the ceremony, Secretary, Presidential Enabling Business Environment Council (PEBEC), Jumoke Oduwole, said there was a need for the private sector to partner the council to grow the economy.
She said that the government, through the ease of doing business initiatives, was working on various reforms toward making the country attractive for businesses to thrive.
Oduwole added that the partnership should be robust in such a way that it impacts on the capital market, investment, job creation and economic growth.
The Acting Director General, Securities and Exchange Commission (SEC), Ms Mary Uduk, said that SEC had been at the forefront of supporting capital market operations, saying it developed the e-dividend to boost investors’ confidence in the market. She said the Exchange also evolved initiatives to ensure liquidity in the market and that operators do the right thing.
For his part, Chief Executive Officer, Trust Yield Securities, Rasheed Yusuf, commended the call for robust collaboration between government and market operators, adding that government should ensure that the partnership reflects on the market’s activities. He also urged the government to utilise the capital market to improve the economy.
Yusuf explained that deficits in government’s budget could be financed through the capital market for accelerated economic growth and development.