Former Secretary General of the Commonwealth, Chief Emeka Anyaoku has joined stakeholders calling on the federal government to utilise the Nigeria’s capital market to develop the economy. Worried by the high level of infrastructure deficit and inadequacy of government financial resources, many stakeholders have been calling on the federal government to raise long term funds from the capital market to finance infrastructure.
Besides, Anyaoku applauded the recent move by the Central Bank of Nigeria in collaboration with the Bankers Committee to leverage Public Private Partnership approach to bridge infrastructure gaps. Specifically, the partnership was expected to commence with construction of four roads, details of which are still hazy.
“ The capital market has important roles to play in the national economy. The managers of the capital market and the operators play pivotal roles. Developed countries did not just develop on the basis of government funding alone, but participation of the private sectors. I am happy that the CBN is collaborating with Bankers Committee on how to fund the huge infrastructure gap in PPP. Many big companies in Nigeria are performing below average because of lack of resources.