A past President of The Nigerian Stock Exchange (now NGX), Dr Goodie Ibru has advocated the need for investment in the equity market, saying the average return in Nigeria and Africa is 30 to 35 per cent per annum.
But Ibru, who was conferred with honourary Fellowship of Chartered Institute of Stockbrokers (CIS) during the Institute’s 30th Anniversary Celebration with another past President of The Exchange, Aliko Mohammed, in recognition of their contributions to the Nigerian economic growth and development, urged the Institute to be in the vanguard of getting the government to review the land tenure laws in Nigeria to encourage investment in real estate.
“In today’s realities, the best investment is in equity. The average return in Nigeria and Africa is 30 % and 35 % per annum, which is very attractive. A good equity market will encourage government to partner with the Private Sector to undertake infrastructure projects under a Public Private Policy Programme. Apart from the equity market, i had in another forum challenged the Institute to take a look at hospitality and real estate sectors. There is a deficit of about 20 million housing units. The Institute can creatively introduce new products, which can be used to fund housing. The Institute should be in the Vanguard of in getting the government to review the land tenure laws to encourage investment in real estate, “Ibru said.
The Ceremony also featured conferment of Fellowship on 50 Associates of the Institute.
In his welcome address, the Institute’s President, Mr Oluwole Adeosun explained that the CIS had played pivotal role in the growth and development of the Nigerian capital market in the last 30 years including manpower training and certification in line with the global best practices.
“A few years ago, CIS introduced both the Diploma in Securities and Investment (DSI) scheme and the Stand-Alone Certification scheme which now enables our students to specialize in any capital market field of their choice, if they do not wish to go through the entire Professional Examination syllabus, “Adeosun said.
The President, Association of Investment Advisers and Portfolio Managers (IAPM), Prince Oladele Olashore who was the Guest Speaker explored the contributions of Stockbrokers to the Nigerian Financial Market over the years in his paper titled: “The Nigerian Capital Market: Past, Present and Future.”
