The Vice President of Nigeria, Senator Kashim Shettima, yesterday, said that the infrastructural deficits in Nigeria and the rest of the West African sub-region are better tackled with funding from the domestic capital market and not through foreign borrowing alone.
Speaking at the opening ceremony of the 3rd West Africa Capital Market Conference with the theme: “Infrastructural Deficit and Sustainable Financing in an Integrated West African Capital Market” held in Lagos, Senator Shettima said: “The centrality of capital market to Nigeria’s development trajectory especially to the evolution of corporate sector, industries and most importantly infrastructural development cannot be over emphasized.
The Vice President said “Innovations have turned out more than ever to be both a potent advantage and disadvantage depending on one’s readiness to engage. Indeed it is said that the best way to prepare for the future is to create it. Where are we on this? Whereas capital market development in any nation is not an easy task, much less its maintenance and sustainability.
In an address, Executive Governor of Lagos State Mr. Babajide Sanwo-Olu said governments are actively aware of the imperatives of addressing infrastructure deficit and sustainable financing in the region. He said the theme of the conference is especially apt for the moment as across the sub region, modern infrastructure such as roads, rails, ports, fibre optics connectivity power etc. are largely inadequate.
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