The Federal Government has been urged to focus on raising bonds from the capital market to financing revenue-generating projects and reduce balance sheet borrowing.
They also stressed the need to develop an investment framework including an enabling legal and regulatory policy, which represents contracts and compensates investors when necessary. “The development of infrastructure in Nigeria has primarily been through the traditional forms of contract awards by the government, through budgetary allocation. Private sector involvement is key, and the Federal Government has identified the power and transport sectors as key for overall development. Hence prime candidates for Public, Private Partnership.
“The capital market is a room for various programmes and mechanisms that are targeted at aggregating and channeling long term capital for businesses and development. The Nigerian capital market has been doing this for many decades and has the potentials to do more.