Stockbrokers To Chart Long-Term Financing Plan For Nigeria

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Stockbrokers have concluded arrangements to support the government’s growth agenda by fashioning out a sustainable model for medium to long-term financing of economic growth initiatives.

Stockbrokers, under the auspices of the Chartered Institute of Stockbrokers (CIS), are organizing a hybrid conference with the theme,  “Capital Market as a catalyst for economic development and sustainable growth” to brainstorm on a new strategy that will enable the government to source long term fund from the capital market.

The conference billed to start on Thursday, October 28, 2021, in Lagos, comes as the Federal Government struggles with a budget deficit of some N6.25 trillion. Despite mounting agitation from the private sector on the implications on the revenue, the value of the Naira, and inflation, the government has maintained its borrowing spree.

Stockbrokers have consistently urged the government to take advantage of the capital market to raise medium and long-term funds to build infrastructure.

President, Chartered Institute of Stockbrokers (CIS), Mr Olatunde Amolegbe, said the 25th Annual conference would come up with techniques by which the federal government could finance infrastructure through mobilization of medium and long-term funds from the capital market.

“We intend to hold discussions around optimizing some elements of capital markets to improve economic development and sustainable growth in Nigeria,” Amolegbe said.

The conference shall undertake a  review of the Petroleum Industry Act (PIA) and opportunity for the capital market,  micro, small and medium enterprises (MSMEs) as an engine of growth for economic development, crowdfunding: its regulations and impacts and fintech evolution and the capital market among other topical issues.

Amolegbe said there would be panel discussions with speakers drawn from the capital market community, regulatory bodies, academia, media, sister agencies, and those in the diaspora.

Corroborating him, the Institute’s Chairman, Programmes Committee, Mr. Oluropo Dada noted that this year’s conference would be historic, going by renewed interest of various professionals in the securities profession.

“We are set to host the biggest Stockbrokers’ event in the history of the Institute, given the unprecedented large number of the inductees and investees. The renewed interest of our members and students in our certifications is symbolized that securities trading remains a profession of choice,” Dada said.

Another stockbroker and a Co-chairman of the Conference Committee, Mrs. Elile Olutimayin said in order to ensure a successful conference, the institute had been engaging the stakeholders in the financial market ecosystem, including government functionaries.

Participants will include stockbrokers, fund managers, regulators, government representatives, investment bankers, and existing and potential investors.

– The Guardian

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