Nigeria: Capital Market Key to Sustainable Economic Growth - Finance Minister

1 November 2019

Minister Finance, Budget and National Planning, Mrs Zainab Ahmed has said that the capital market can be used to achieve inclusive and sustainable economic growth in the country.

Ahmed stated this in a keynote address at the investment and capital market conference held in Abuja.

She said: "We want a vision for a future Nigeria where the majority of Nigerians have been sustainably lifted out of poverty and have access to fundamental services including education, health care, water supply and sanitation. A future where all are financially included, with affordable access to financial products and services. A future where we have left no one behind.

"Our capital market is crucial to actualizing this future and to achieving the sustained, inclusive and equitable socio-economic growth that this government aims to achieve."

The minister said the capital market allows for the mobilization of long-term savings for investment as well as efficient pricing of financial instruments.

"The Federal Government of Nigeria, particularly the Federal Ministry of Finance reiterates its commitment towards building lasting, endurable, and increasingly more innovative capital market. I, therefore, look forward to your continued support in achieving inclusive and sustainable economic growth and prosperity.

"It has provided a necessary platform through which the business sector and Government have been able to source for capital to expand their operations and provide public goods and services for the citizens.

"Therefore, we recognize the importance of maintaining a competitive, resilient and innovative capital market through, in part, the development of appropriate policies, and a strong regulatory and enabling environment, and continued implementation of the ten-year capital market master plan (2015 to 2025), aimed at positioning the Nigerian capital market for accelerated development," she added.

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