Ngozi Amuche
In pursuit of their roles as economic engineers and agents of wealth creation, stockbrokers in Nigeria are warming up to prepare a roadmap on how the Federal Government can leverage the capital market to put the country’s dwindling economy on sound footing.
By this strategic move, stockbrokers said they shall on November 5, 2020, converge for the 2020 Annual Conference of Stockbrokers on both physical and virtual mode to articulate options for the nation’s economic revival with the Theme:
“Navigating through the Storms-Reenergizing the Economy through the Capital Market”.
The Conference according to them, is coming at a period when the Nigeria’s Vice President, Prof Yemi Osinbajo, says government is seeking alternative avenues for money, will attract indigenous and foreign finance and investment experts, top level government functionaries, capital market regulators, investors and other members of the capital market ecosystem.
“The significance of this year’s Theme, is better appreciated against the backdrop of the current situation whereby the Federal Government is in dire need of fund to finance the economy. The key messages to the government and companies in Nigeria are that of hope and renewal by taking advantage of opportunities to source long term fund through the capital market.
“The Federal Government should access medium and long term fund from the market to finance budget deficit and build infrastructure among others.
Companies should also explore the market to shore up working capital, invest in Information and Communication Technology (ICT) grow business, enhance profitability and boost return on investment (ROI).”, says Olatunde Amolegbe, the President, CIS.
Corroborating him, the Institute’s Registrar and Chief Executive, Mr Adedeji Ajadi, noted that Covid-19 pandemic had necessitated the need for comprehensive turnaround of Nigeria’s economy.