By Aduragbemi Omiyale
The Nigerian capital market has been described as a vital engine for wealth creation and infrastructure development if its full potential is utilised.
This was the view of the Director-General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, when he spoke at the 28th annual conference of the Chartered Institute of Stockbrokers (CIS) in Ibadan, Oyo State, themed Capital Market as a Catalyst for the $1.0 trillion Economy.
The administration of President Bola Tinubu has revealed its intention to grow the country’s economy to $1 trillion by 2030 through some policies carefully designed to meet this goal.
For Mr Agama, the nation’s capital market is fully positioned to make this a reality through collaboration among regulators, market operators, and policymakers.
“The success of the $1.0 trillion economy vision largely depends on the collective efforts of all stakeholders in the financial ecosystem. By fostering collaboration, we can create a more resilient and inclusive market,” the SEC chief stated.
He appealed to stockbrokers and stakeholders in Nigeria’s capital market to fully utilize its potential in fostering a prosperous and sustainable economy, noting that by channelling resources into productive sectors, the capital market can support the nation’s journey towards a $1.0 trillion economy.
“This conference provides an opportunity to identify and address key barriers that have hindered optimal capital market performance, such as regulatory challenges, market liquidity, and investor confidence.
“The role of technological innovations in the market cannot be overstated. Embracing fintech solutions, blockchain, and digital assets will further enhance market efficiency and transparency,” Mr Agama disclosed.
He praised the CIS for its dedication to professional development, highlighting that the conference equips market players with essential knowledge to drive Nigeria’s economy forward.
In his address, the CIS President and Chairman of the Governing Council, Mr Oluropo Dada, stressed the capital market’s strategic importance in achieving the federal government’s goal of a $1.0 trillion economy, noting that the theme of the conference aligned with this objective and highlighted the market’s role in empowering entrepreneurs and facilitating the growth of small businesses into larger corporations.
“The capital market democratizes assets through wealth creation and distribution, providing opportunities for individuals, corporates, and governments to save and invest for the future. Achieving a trillion-dollar economy requires exploring the capital market’s role as a proven engine of growth,” he averred.
Dipo Olowookere