Chief Executive of the Nigerian Stock Exchange, NSE Mr. Oscar Onyema has stated that Nigeria remains top of investor’s choice on the African continent, despite the rigidity in the foreign exchange market.
Mr. Onyema who stated this recently at the NSE/London Stock Exchange, LSE conference held in Lagos said the conference has created an avenue to articulate a clear economic blue print for the midterm which credible fiscal and monetary policies can emerged.
The conference which has the theme, “Leveraging Cross-Border Capital Markets for Sustainable Growth,“ is topical for Nigeria at this time as the government grapples with the task of articulating and diversifying the economy in the face of depressed earnings from legacy sources, the reality of the need to leverage and embrace the globalisation of economies and financial markets becomes clearer.
Capital Markets, he stated, are critical to sustainability of growth and development in an Economy.
“It is my strong belief that one of the things that Nigeria and Africa needs to sustain its growth is a solid and vibrant capital market ecosystem that will attract investment and unlock the potential that exists in the economy. Capital markets increase the proportion of long-term savings that is channeled to long-term investments.
“Based on current outlook for Economies and Markets of the G7 countries, only the economies of the United States and United Kingdom appear on track to have sustainably exited the global financial crisis of 2008. Why are The United Kingdom (UK) and The United States (US) ahead? One of the key differentiating factors these two markets have in common, relative to the others, is a strong and resilient capital market/financial system, “he said.
Chief Executive Officer and Director of International Development, LSE, Nikkil Rathi, said the LSE partnership with the NSE will ensure that Nigerian companies are exposed to global capital market.
The LSE, he stressed, is very passionate about the development of the African capital markets, a reason he said informed the formation of the African Advisory Board.
The board, he added, has amongst its plans, effort to help Small and Medium Enterprise, SMEs get access to capital that will aid their growth and development.

READ ALSO  Backlog of salaries: Don’t use Ige’s death as reason for non-payment – CLO tells Aregbesola