Nigeria: NSE Stresses Importance of Capital Market in Achieving SDGs

6 December 2019

The Nigerian Stock Exchange (NSE) has highlighted the critical role of the capital market in delivering sustainable socio-economic growth and development in Nigeria. This was articulated at the award ceremony of the 19th NSE Essay Competition for Senior Secondary Schools in Nigeria last Wednesday in Lagos.

According to the Chief Executive Officer of the NSE, Mr. Oscar Onyema, there is the need for innovative solutions to leverage the capital market for the achievement of the Sustainable Development Goals (SDGs).

"We need to connect people with products and services that build human and physical capital, as well as bridge infrastructural gaps in Nigeria. We have also identified the critical role of millennials in achieving these outcomes evidenced by the overwhelming interest today's youth have shown in this exercise. We were not only delighted by the thousands of entries we received this year - up over 100 per cent from last year - but also impressed by the quality of progressive solutions articulated in the submissions, some of which will be presented today," Mr Onyema said.

Meanwhile, Miss Adeniyi Adesewa of Grandmates Secondary School was announced as the 1st place winner of the competition out of 40,966 applicants across Nigeria. She has been awarded a N500,000 scholarship fund for her university education, N500,000 worth of equity investment, and a laptop. Grandmates Secondary School has also been awarded 3 desktop computers and a printer.

Miss Temiloluwa Oladipo and Master Adeoye Okhaioisevai both of Oritamefa Baptist Model School emerged second and third place respectively. Each of them has been presented with a scholarship for university education, equity investment and a laptop, along with desktop computers and a printer for the school. In addition, the top three winners were given the prestigious honour of a Closing Gong Ceremony at the exchange, while seven other finalists received laptops in recognition of their good performance.

Present at the event was the First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs Funke Omotosho. She commended the NSE for the contribution of this initiative to the development of our great nation and encouraged participants in the competition to stay committed to developing their skills.

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