The Federal Government has reaffirmed its commitment to strengthening the Nigerian capital market as a catalyst for wealth creation and national economic development.
Speaking at a recent meeting with the board of the Securities and Exchange Commission (SEC) in Abuja, the Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized that the administration was dedicated to creating a vibrant capital market to drive private-sector-led growth.
Uzoka-Anite noted that achieving the administration’s goal of a $1 trillion economy hinged on a resilient capital market.
According to her, “if we are to achieve the renewed hope mandate of a $1 trillion economy, it has to be through the capital market. It has to be private sector driven, and that private sector drive is the capital market”.
She added, “A number of investors we had met previously in my former role were interested in the capital market. They want the market to be resilient enough to accommodate primary offers for them to exit when they come in. We are here to say that the market is open to accommodate them, and we are committed to strengthening the capital market to make it more robust and ensure that investor confidence returns to the market. That is one area you need a lot of support, and I think we can do that as it is fundamental for you”.
The Minister assured the SEC board of the Federal Government’s support in ensuring that the capital market reaches its full potential, fosters economic growth, and creates wealth for Nigerians.
In his remarks, the Chairman of the SEC board, Mairiga Katuka, highlighted the significance of fostering a close partnership between the SEC and the Ministry of Finance to achieve a resilient and vibrant capital market.
Katuka stated, “The capital market is key in achieving the current administration’s Renewed Hope Agenda and harnessing available potentials in the market to boost national economic development.
“As the apex regulator of the Nigerian capital market, the SEC is saddled with the dual responsibility of regulating and developing the market with a view to attracting investments for wealth creation and supporting Nigeria’s developmental objectives”.
He disclosed that the Commission was undergoing reforms aimed at attaining world-class status and appealed for the Minister’s support in achieving these goals.
“Please be assured of the commitment of the board of the Commission to support the Federal Government’s economic diversification and financial inclusion agenda”, Katuka said.
He also pledged the board’s readiness to engage in sustained dialogue and collaboration to bolster growth and investor confidence in the capital market and the broader economy.
