Operators have implored the federal government to utilise the Capital Market in funding the 2021 budget.The proposed budget of N13.08 trillion for the 2021 fiscal year tagged ‘Budget of Economic Recovery and Resilience’ was pre- sented to the National Assembly by President Muhammadu Buhari on October 8, 2020.The 2021 budget, which represents an increase of 27 per cent from the approved N10.
infrastructure, limited foreign exchange capacity, trade barriers, growing unem- ployment, investor apathy, spiraling in- flation and other macroeconomic vagaries. Speaking on the forth coming 2020 annual conference of Stockbrokers, with the theme, ‘Navigating through the Storms- Reenergizing the Economy through the Capital Market’, the president of Chartered Institute of Stockbrokers , Olatunde Amolegbe, said, “The significance of this year’s theme is better appreciated against the back- drop of the current situation where by the federal government is in dire need of fund to finance the economy.
“We are sending a poser to the government: With the challenges of COVID-19, a looming recession and other economic issues in Nigeria, how do we turn our economy around? We are suggesting that, if well- explored, the capital market can be a major catalyst to drive the desired growth, and take us through the ‘storm,” he stressed.
The chief operating officer of InvestData Consulting Limited also pointed out that the government budget always affected the economy, while the economy in turn would affect the capital market.
Since we are deficit budgeting it appears FG is at a loss about where the money will come from.
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