FG to partner domestic capital market for growth … Osinbanjo

Bonny Amadi
The Federal Government has given assurance of sustained working partnership with the Nigerian capital market to enhance socio-economic growth.

This was disclosed on Thursday, in Lagos, by the Vice President, Professor Yemi Osibanjo, at the 2017 Nigerian Debt Capital Market Conference & Awards, organized by the FMDQ OTC securities Exchange.

The vice president lauded the OTC Exchange and the Nigerian capital market for ensuring that enabling infrastructures are provided for facilitation of debt capital market and enabling the government and corporates to raise developmental funds.

Represented at the event by the, Director General, Debt Management Office, and Mrs. Patience Oniha Osibanjo said that the partnership is a demonstration of government’s commitment to enhancing the nation’s economic vibrancy, growth and diversification.

According to the vice president, the finances available to the Federal Government could not finance the infrastructure needs of the country, which makes it imperative to continually enhance the ease of doing business in the country for the private sector partnership initiatives to be more effective and result- oriented, a gap, he said, the Nigeria’s capital market has been committed to filling by providing the platform for mobilization of infrastructural development funds.

Nigeria’s Finance Minister, Mrs. Kemi Adeosun, in her address said that the federal government places more hope in the nation’s capital market to bridge the country’s infrastructural gap.

The minister added that infrastructural needs of the country is so massive for the federal government to finance alone, as it requires private sector involvement.

The private sector involvement, the minister said, would best be achieved by the Nigeria’s debt capital market which provides the platform to raise sustainable cheaper funds for infrastructural development.

She said that the federal government is committed to working with the private sector and the Nigerian capital market to further enhance the operating environment, establish the necessary frameworks and ease of doing business to strengthen confidence and hope in doing business in the country.

“We see a number of opportunities for the capital market to bridge the infrastructural gap in the country.” Adeosun said.