FG signs new $ 42 billion deals to boost the oil and gas sector

By Aduragbemi Omiyale

Nigerian Exchange (NGX) Limited has called on capital market players to work together to achieve productive investments powered by a digitized capital market.

NGX CEO Mr. Temi Popoola said at the first edition of the capital markets conference in Abuja on Tuesday that it will deepen the market and attract more foreign investors.

“As an important economic engine, we are proud to be at the forefront of this milestone, which is crucial for Nigeria’s financial sector and especially the capital market.

“The long list of key public and private sector stakeholders attending today’s conference shows how open the NGX is to leveraging relationships and partnerships to advance its digital transformation agenda,” he said.

“To drive this forward, NGX will continue to deepen and improve access to financial services for Nigeria through technology, while promoting the country’s infrastructural development and economic growth,” assured Mr. Popoola.

On the hybrid event topic The sustainable capital markets; Innovations for Nigeria’s Sustainable Recovery, Vice President Yemi Osinbajo provided the insight and broadened thinking required to drive greater capital flows through innovative sources of finance for the capital market.

He praised NGX’s digitization efforts and urged the exchange to continue working with all government agencies and regulators, including the Central Bank of Nigeria (CBN), the Securities and Exchanges Commission (SEC), and the National Pension Commission (PenCom). ensure that the excessive risk premium of the capital market is reduced and that foreign investors are strongly advised of foreign investment mechanisms and other regulations that will help them to input and output their resources with the least possible restrictions.

“As a government, we have shown our commitment to the growth of NGX and would like NGX to see itself as a critical actor in negotiations on African-wide initiatives such as the Africa Continental Free Trade Area (AFCTA).

“As announced by the first capital markets conference, the macroeconomic environment and the regulatory system offer unprecedented opportunities to attract more private investors, deepen the market and positively influence the livelihoods of Nigerians,” said Osinbajo.

Also, the chairman of NGX, Mr. Abubakar Balarabe Mahmoud, said at the conference that the Nigerian capital market has the ability to drive economic development and wealth creation through innovation and digitization.

“As the conclusions of various speakers and panelists have shown, an increased capital market can greatly contribute to the government’s development agenda, particularly with a view to improving the economy,” concluded Mr Mahmoud.

The first NGX Capital Markets Conference is the first in the series of events that catalyzes the capital market of the future, which uses technology sustainably to drive the country’s infrastructure development and economic growth.

The program brought together leading policy makers, financial experts, business leaders, investors, international development partners and regulators.

Some of those present were the Chairman of the BUA Group, Mr. Abdul Samad Rabiu; Senate President, Mr. Ahmad Lawan, represented by Mr. Ibikunle Amosun, Chairman of the Senate Committee for Capital Markets; House Speaker, Mr. Femi Gbajabiamila; Chairman of the Capital Markets Committee of the House of Representatives, Mr. Babangida Ibrahim; Ekiti State Governor and Chairman of the Nigerian Governors’ Forum, Mr. Kayode Fayemi; Governor of Edo State, Mr. Godwin Obaseki; Governor of Kaduna State, Mr. Nasir El-Rufai; among other things.

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