The Federal Government has reaffirmed its commitment to strengthening Nigeria’s capital market as a critical driver of economic growth and wealth creation.
This declaration was made by the Minister of State for Finance, Doris Uzoka-Anite, during a meeting with the board of the Securities and Exchange Commission (SEC) in Abuja over the weekend.
Uzoka-Anite stated that the Ministry of Finance had been mandated by President Bola Tinubu to ensure that the capital market plays a key role in achieving the administration’s economic objectives.
She emphasized the importance of the capital market in realizing the nation’s goal of becoming a $1 trillion economy.
“If we are to achieve the renewed hope mandate of a $1tn economy, it has to be through the capital market,” Uzoka-Anite remarked. “It has to be private sector-driven, and that private sector drive is the capital market. We are committed to strengthening the market to make it more robust and ensure that investor confidence is restored.”
She further highlighted the need for a resilient market that can accommodate primary offers and provide investors with viable exit options.
The government has pledged its full support to help the SEC realize its potential in driving the economy and creating wealth for Nigerians.
The Chairman of the SEC board, Mairiga Katuka, acknowledged the importance of collaboration between the SEC and the Ministry of Finance in fostering a vibrant and resilient capital market. “The capital market is key to achieving the administration’s renewed hope agenda and boosting national economic development,” Katuka stated.
Katuka also pointed out that the SEC was undergoing reforms aimed at making the market globally competitive while enhancing its role in economic diversification and financial inclusion.
He assured the minister of the board’s commitment to supporting the government’s economic agenda, emphasizing the need for continued dialogue and collaboration to promote market growth and investor confidence.
In addition, the SEC has announced plans to enhance the regulatory framework for government and corporate borrowing, focusing on sustainability and efficiency within the financial system.