Chairman, Senate Committee on Capital Market, Senator Isiaka Adeleke has disclosed that plans are on by the Federal Government to inject N6.5 billion into the Capital Market.
He made this disclosure on Wednesday, at a joint press briefing of the Senate and House of Representatives Committees on Capital Market.
While speaking at a stakeholder’s forum, titled: “realizing the full potentials of the Nigerian economy through proactive capital market legislation,” Senator Adeleke said that the era of change in the country calls for a major shift in approaches to seeking solutions to political, social, and economic challenges facing the nation.
The Lawmaker hinted that the National Assembly planned to enact legislation that would compel idle funds in bodies like Pension Funds for the stimulation of the Capital Market to play expected role in the growth of the country’s economy.
Adeleke said, “As a mono-product economy, with oil and gas constituting the life-blood, the global downturn has continued to negatively affect meaningful growth and development.
“As a parliament we strongly believe that the downward slide of Nigeria’s economy provides the best opportunity for major stakeholders to begin to return the economy to vibrancy. We are confident that the Capital Market can and should perform this role.”