Finance Minister, Zainab Ahmed identifies capital market as key driver for economic growth

Joseph Olaoluwa

5 years ago

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The importance of the capital market to Nigeria’s economic growth cannot be overemphasized. Nigeria’s Minister for Finance, Budget and National Planning, Zainab Ahmed, has advocated for its use, highlighting its capacity to lift majority of Nigerians out of poverty and turn their circumstances around.

The Finance Minister made this disclosure while addressing the audience at an investment and capital market conference in Abuja.

The Details: “We want a vision for a future Nigeria where the majority of Nigerians have been sustainably lifted out of poverty and have access to fundamental services including education, health care, water supply and sanitation. A future where all are financially included, with affordable access to financial products and services. A future where we have left no one behind.

“Our capital market is crucial to actualizing this future and to achieving the sustained, inclusive and equitable socio-economic growth that this government aims to achieve,” she said.

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In addition, she reiterated the commitment of her ministry to providing a favourable environment for investments in the market and competitive pricing of financial instruments.

Ahmed’s words: “The Federal Government of Nigeria, particularly the Federal Ministry of Finance reiterates its commitment towards building lasting, endurable, and increasingly more innovative capital market. I, therefore, look forward to your continued support in achieving inclusive and sustainable economic growth and prosperity.

“It has provided a necessary platform through which the business sector and Government have been able to source for capital to expand their operations and provide public goods and services for the citizens.

“Therefore, we recognize the importance of maintaining a competitive, resilient and innovative capital market through, in part, the development of appropriate policies, and a strong regulatory and enabling environment, and continued implementation of the ten-year capital market master plan (2015 to 2025), aimed at positioning the Nigerian capital market for accelerated development.”