Ahmed: Investor Confidence Key Ingredients to Accelerate Capital Market Growth

The Minister of Finance Budget and National Planning, Mrs. Zainab Ahmed, yesterday in Lagos described investor confidence as one of the key ingredients that will accelerate the growth of the nation’s capital market and increase both domestic and foreign investors’ participation.

The Minister who was represented by the Director

General Debt Management Office (DMO), Ms. Patience Oniha at the launch of the revised Capital Market Master Plan, pledged that the federal government would continue to strengthen the regulator to effectively do its job of regulating and developing the Capital Market.

She noted that the capital market should be characterized by high level of compliance with ethical standards, deep liquidity and sophistication, good corporate governance, and a strong domestic investor base.

According to her, “Nigeria needs a capital market that broadens access to economic prosperity by enabling the emergence of financially responsible citizens, accelerating wealth creation and distribution, providing capital to small and medium scale enterprises, and catalysing housing finance.

“I consider the revised Capital Market Master Plan a veritable tool which the Capital Market must use as it drives key initiatives towards achieving the Country’s economic growth objectives.

Ahmed said the implementation of the Master Plan is one of the key initiatives in the 40- Deliverable Presidential mandate of the Federal Ministry of Finance, Budget and National Planning.

This the Minister said underscores the fact that capital market growth resonates with this Administration’s unwavering commitment to deepening and re-positioning the financial market as a key anchor to achieving a private sector-led development of our economy as emphasized in the National Development Plan (NDP) objectives.

“This Administration and especially my Office has supported the Capital Market Master Plan implementation efforts since inception.

“The Master Plan, which represents collective aspirations of the capital market community is focused on driving initiatives geared towards growing and deepening the Market with the ultimate goal of accelerating the emergence of our Country in the top 20 global economies by the year 2025.