With the persistent sell-offs dogging the Nigerian stock market, the President, Pearl Awards Nigeria, Tayo Orekoya, says the nation’s economy is in dire need of sustainable growth to ensure stability in the capital market.
Orekoya disclosed this during a press briefing in Lagos yesterday while highlighting the forthcoming 24th award slated for November 24 in Lagos.
He expressed dissatisfaction with the unstable condition of the capital market, adding that the instability has continued to have a negative impact on investor’s confidence and called on government, regulatory authorities to address the challenges affecting the dwindling performance of the stock market.
“The stakeholders of our capital market in collaboration with the government, must continue to strive towards market stability, sustainability and growth. Regulators in particular must intensify efforts towards utilsing innovative approaches towards engendering restoration of foreign and national investors and deepening the market for enhanced development”, Orekoya noted.
Orekoya explained that the aim of the 2019 award, which has the theme, “Celebrating Sustainable Leadership and Resilience,” is to reward companies who had shown resilience and sustain leadership in the capital market in spite of the challenging environment.