That rate nearly doubles the 14.3 per cent contribution to the economy as of 9 May, an ambitious target for a market just striving to win investors back after foreign inflow hit its lowest level in more than nine years in April.
Among the strategies to achieve that end is “increased participation of pension funds and insurance companies in the capital market,” the committee said in a report seen by PREMIUM TIMES. Offering more substantial incentives for portfolio investment through pension funds, for instance, could help the government tap deeper into a sector which had invested 65.4 per cent or N10.2 trillion of its assets under management in Federal Government Securities as of March.
Tokunbo Abiru, a current senator and one-time Polaris Bank’s managing director, chairs the sub-committee. Yemi Cardozo, chairman of Citibank Nigeria; Samaila Zubairu, president and CEO of Africa Finance Corporation and Doris Anite, are the other members.The move comes as the Nigerian Exchange faces a tough time attracting new listings, having