Operators in the real sector as well as the insurance and pension sectors have called for urgent review of legislations guiding investments in various sectors of the economy in order to allow real sector operators have access to long-term funds.
He noted that insurance and pension funds are larger sources of long-term fund but are not available for real sector investment, whereas funds from financial system which is short-term in nature are the only available fund for them. He noted that the N11.35 trillion pension funds as at August this year means a lot in Nigeria investment market if there is right kind of investment environment and regulation.
Enajemo-Isere, who was the chairman at the conference, identified the effect of the ravaging COVID-19 pandemic and wanton destruction of life and properties across the country in the wake of the #EndSARS protest that was hijacked by hoodlums, among many others on the economy and noted that the impact of these crisis have resulted into the Nation GDP declining from a growth of 2.2 percent in 2019 to about -4 percent by year end.
“In furtherance to the foregoing, the current restrictive nature of insurance and pension funds investment outlets calls for review of the legislations guiding investment of insurance and pension fund. The yelling and plea from the Organised Private sector of Nigeria to create more access to investible funds deserves attention.