The Chartered Institute of Stockbrokers has stated that it will be coming up with techniques for the Federal Government to source long term funding from the capital market.
CIS said in a statement that despite mounting agitation from the private sector on the implications of borrowing on revenue, the value of the naira and inflation, the Federal Government kept borrowing as its current budget deficit stood at N6.25tn. The President, CIS, Mr Olatunde Amolegbe, stated that its upcoming conference themed ‘Capital market as a catalyst for economic and sustainable growth’, would feature discussions on optimising some elements of capital markets to improve economic development and sustainable growth in Nigeria.
He said, “The conference shall undertake a review of the Petroleum Industry Act and opportunity for the capital market; micro, small and medium enterprises as an engine of growth for economic development; crowdfunding: its regulations and impacts; and fintech evolution and the capital market among other topical issues.”