The Capital Market Committee (CMC) on Monday called for strong Nigerian investors’ participation in the Nigerian stock market to enhance stability and development.
Mrs Oluwatoyin Sanni, Chairman, Organising Committee, CMC 2014 Retreat, made the call in Lagos at a news conference to herald the event.
Sanni, who is also the Group Managing Director of UBA Capital, said the market and the economy would be stable through strong participation of domestic investors.
“Our economy like most global market is sensitive to global development, but if we have a strong participation by domestic investors in our economy, it will help to make our economy much more stable,” Sanni said.
She said the market operators would ensure further development of domestic investors’ confidence in the market, noting that it was critical for long-term health and stability of the market.
Sanni said that “Nigerians are the one that have a long-term stake in the economy and one of the things that we hope to develop further is domestic investor confidence.
“This is very critical for the long-term health and stability of our market”.
According to her, the Nigerian capital market plays an integral role in the Nigerian financial market.
The financial market comprises the debt capital market valued in excess of 37.5 billion dollars and market capitalisation of 85 billion dollars.
She added that issues bordering on infrastructure and ways to finance Small and Medium Enterprises (SMEs) in Nigeria would top the agenda of the CMC retreat holding from Nov. 26 to 28 in Abuja.
Sanni said that infrastructure and SMEs played important roles in economic growth and development.
She said the retreat would focus on strategies for converting the gains of the Gross Domestic Product re-basing into wealth distribution through the capital market .
She added that the capital market masterplan would be unveiled at the retreat.
Sanni said that over 800 participants were expected from various parts of the economy for the retreat.
She added that key government functionaries such as the Coordinating Minister of the Economy and Minister of Finance, Prof. Ngozi Konjo-Iweala among others are expected to attend.
“We need to tie up the market and reach to people that is driving the transformation programme of the country because we are passionate about growing the market.
“The percentage of the capital market to GDP is still very low and a lot still needs to be done and this is the opportunity to link capital market to wealth creation,” she said.
The News Agency of Nigeria (NAN) reports that the theme of the 2014 retreat is ‘Capital Market: Creating Wealth. (NAN)
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