Capital Market in Focus as Stockbrokers Strategize for Nigeria’s $1 Trillion Economy Goal
Stockbrokers under the Chartered Institute of Stockbrokers (CIS) are organizing a high-level workshop to explore the capital market’s role in helping Nigeria achieve its ambitious goal of a $1 trillion economy. The event, themed “Capital Formation in Nigeria: Strengthening Industry, Institutions, and Markets to Bolster a $1 Trillion Economy,” is scheduled to take place at the Presidential Villa in Abuja. It will convene experts, policymakers, and key stakeholders to identify opportunities and tackle challenges surrounding capital formation.
CIS President, Mr. Oluropo Dada, emphasized the importance of the workshop as a pivotal event in Nigeria’s economic calendar. He noted that capital formation is crucial for building a resilient economy and that the workshop would focus on strengthening industries, institutions, and financial markets. Participants will explore how to enhance the operating environment, ensure investor confidence, and improve regulatory frameworks, all of which are necessary to unlock capital and spur economic growth.
According to Mr. Dada, the capital market can play a transformative role by supporting government initiatives and boosting investor engagement. He stated that the discussions will address not just opportunities and institutional reforms but also broader systemic challenges like the rule of law, which is vital for attracting long-term investment. The aim is to set a strategic agenda that aligns with President Tinubu’s economic reforms and growth plans.
Alhaji Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group (NGX Group) Plc, highlighted the significance of hosting the workshop at Aso Rock as a symbol of government backing. He stressed that both private and public sector experts will come together to demonstrate the market’s potential in supporting national development. The capital market, he said, has been proactive in aligning with the administration’s vision and continues to be a reliable driver of the economy.
Fiona Ahimie, CIS 1st Vice President, added that Nigeria possesses significant internal capital that can be channeled toward sustainable growth. She advocated for a shift from over-reliance on foreign capital to mobilizing local resources. By investing in domestic industries and strengthening financial institutions, Nigeria can not only meet its own development needs but also emerge as a key economic player in Africa.
Source: THE NATION