Federal Government commits towards capital market growth.
His Excellency, Vice President of Nigeria, Professor Yemi Osinbajo in his maiden visit to the Nigerian Stock Exchange (NSE) has pledged the full support of the Federal Government towards partnership that will engender the rebound of the Nigerian Stock market.
His Excellency, gave this assertion whilst performing the closing gong ceremony, in company of the NSE’s first Vice President, Abimbola Ogunbanjo, the NSE’s CEO Oscar Onyema, and the NSE’s former and current president in the persons of Alhaji Aliko Dangote, and Aigboje Aig-Imoukhuede on the trading floor of the NSE.
He said “All of us the private sector and the government must work hand in hand at this time, this is a time of great challenges, and everywhere in the world, the stock exchange very quickly recognizes wherever there are economic challenges, with the indicators showing that there are complications and problems.
So I want us to see ourselves as partners working together to ensure we are able to take our nation out of where we are at the moment, to growth and permanent prosperity.”
Speaking further, Professor Osinbajo explained that the government is committed to creating an enabling environment for industry and for businesses.
“First we are trying to work on infrastructure which is very important we are also trying to work on tax incentives and other manners of incentive regime that will enable businesses to do better. Of course you know what the immediate challenges are, foreign exchange, power in some cases, but all of these are issues that we are working on, on a day by day basis.
My interaction today with the council has helped a great deal in trying to understand more of the immediate challenges that they have to confront, and try to see how we can deal with them.” he said
In his remarks, President of the NSE, Mr. AIG Imoukhede said “It is indeed a great pleasure and privilege for us to welcome and host His Excellency Vice President of Nigeria, Professor Yemi Osinbajo. He has listened so well this afternoon at the interaction that he had with council members, listed companies and the members of your community, and in the limited time his answers gave us strong reason for hope.
His Excellency, the VP is one of those few individuals locally and internationally, who this exchange has consulted with over time when it comes to difficult issues. It therefore personifies the knowledge, intelligence and experience that is necessary to make markets like our market work, and having him in government gives me hope and gives all of us the confidence that we will overcome not just the economic challenges but the financial market challenges as well.
He has spoken positively and with confidence about the future of our markets. I share the enthusiasm and the confidence. We are going through difficult times at this point in time but I am sure very soon we will see much better times.” He concluded
Apart from meeting council of the Nigerian Stock Exchange, Vice President Professor Osinbajo also engaged business leaders in a closed-door interactive session who represented their various sectors, such as the President of Dangote Industries Limited, Alhaji Aliko Dangote, for the industrial sector; Founder of Zenith Bank, Jim Ovia, who represented the banking sector, while the oil and gas sector was represented by the Chairman of Seplat, A.B.C Orjiako.
The healthcare sector had CEO Fidson Healthcare Pharmaceuticals, Dr. Fidelis Ayebae, while Founder and Managing Director of Custodian and Allied Insurance Plc Mr. Oluwole Oshin, represented the insurance sector.
Also present at the business leaders meeting, amongst others, was the Management of the Initiates Plc who stood in lieu of the waste management sector.
