By Goddy Egene
The President of the Nigerian Stock Exchange (NSE), Mr. Aigboje Aig-Imoukhuede has called on the federal government to incorporate the capital market into its policy making process in order to create an enabling environment for investment, entrepreurship that will lead to economic growth and development.
Aig-Imoukhuede, who made the call at the 12th annual Pearl Awards public lecture for capital market development in Lagos, said that the country would not experience any meaningful growth without the capital market.
According to him, economic growth is the panacea to most of the country’s challenges, stressing that there should therefore be increased dialogue between policy makers and the capital market stakeholders.
“Public and private sector cooperation, collaboration and partnership are required. The NSE and other capital market stakeholders are ready, capable and willing to do what is required for Nigeria’s socio-economic recovery,”Aig-Imoukhuede said.
In order to deepen the market, Aig-Imoukhuede explained that major companies operating in telecommunications and oil and gas sectors as well as national champions not yet listed should be encouraged to list on the NSE.
He noted that one of the ways to achieve this, stimulate growth and development is through incentives.
The former managing director of Access Bank, said that government must have both technical and business expertise that would put together quality infrastructure projects with the right risk and return ratio to attract capital.
He stated that the existing legal and regulatory framework should be reviewed to reduce bottlenecks and promote economic activities.
Aig-Imoukhuede , who spoke on: “Global and National Socio-economic challenges and renaissance: Whiter the Nigerian capital market?,
added that Pension Fund Administrators (PFAs) should be encouraged to invest in public infrastructure.
He said that roadshows to attract international funds/investors with infrastructure focus should be encouraged.
Speaking in the same vein, former Director General of NSE, Apostle Hayford Alile urged government to hand over schools to the missionaries in order to grow the nation’s educational sector and inculcate virtues and morals into the system.
“Some of us that seek recruitment interview have gone through the agony of having graduates finding it difficult to spell their names. Authority should manage our social environment well and keep it free from corruption, stealing and other vices. Those corrupt should be dealt with instantly. The global negative perception of Nigeria is regrettable. I commend the law enforcement agencies for the work done so far,” he declared.