#Financial news

How to fix infrastructure deficit – Expert

By Francis Akinnodi

The Federal Government and private sectors have been urged to embrace the capital market for long-term funds to address the country’s infrastructure deficit.
An economic expert, Mr. Sanya Ogunsakin made this known while speaking with The Hope at the weekend.
He said the government and the private sector must harness the opportunities in the country’s capital market for infrastructure development and employment, instead of depending on external borrowings.
Ogunsakin noted that the challenges facing the country in terms of infrastructure would be resolved through capital market instruments.
“Most countries have used the capital market to boost their infrastructure. The capital market is the appreciative way of resolving our infrastructural issue.”
He said continuous engagement between the Federal Government, the private sector, policy makers and other stakeholders on the inherent opportunities in Nigeria’s capital market should be established.
He said the exchange would remain committed to investor education to boost participation in the market.
Speaking on the inaugural Nigerian Capital Markets Conference holding by November 30 organized by Nigerian Exchange Limited (NGX), he said the conference would bring together policymakers, government, financial experts, business leaders, investors, international development partners, regulators and other stakeholders, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing.
He said: “This is going to be the first of its kind in the country. The event will address what the market can do for the government, private sector and the opportunities the market offers.”
He also stressed the need for government policy to drive and revive the capital market.
“Some of the rules that govern the market today need to be reviewed.”, he said.
He noted that retail investors in the market at the moment stood at three to four million, considering the country’s 200 million population.

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