By Chinwendu Obienyi
The Chartered Institute of Stockbrokers (CIS) has again emphasised the pivotal role of the capital market in Nigeria’s ambition to achieve a $1 trillion economy.
Speaking at the 28th Annual Stockbrokers’ Conference in Ibadan at the weekend, the CIS President, Oluropo Dada highlighted that achieving this economic milestone will require a comprehensive and strategic exploration of capital markets.
He noted that the Nigerian capital market has significant untapped potential to contribute to the Federal Government’s economic goals.
Dada pointed to the examples of developed economies, emphasizing that sustainable economic growth in Nigeria must include robust support from capital markets.
“The theme, Capital Market as Catalyst for the $1.0 trillion Economy”, was deliberately crafted to serve as the Institute’s contribution towards achieving one of the Federal Government of Nigeria’s cardinal objectives, which is growing the GDP of Nigeria to $1 trillion as quickly as possible. It is our conviction, after carefully studying the paths taken by the developed countries of the world, achieving a trillion-dollar Nigerian economy necessarily requires a comprehensive exploration”, the CIS President stated.
Corroborating him, the Director General, Securities and Exchange Commission (SEC), Dr Emomotimi Agama, advocated collaboration amongst all stakeholders and deployment of fintech as a strategy to achieve $1 trillion economy in Nigeria.
According to him, by embracing blockchain, digital assets, and other technological advancements, Nigeria’s capital market can become more transparent and efficient, thus supporting the nation’s economic aspirations.
He said, “Embracing fintech solutions, blockchain, and digital assets will further enhance market efficiency and transparency. The critical review of sectors, investment strategies, market regulations, and technological innovations that the conference promises will undoubtedly provide a roadmap for the capital market’s contribution to Nigeria’s economic transformation.”
His remarks were supported by key government figures like Dr. Tope Fasua, Special Adviser to the President on Economic Affairs, and others who conveyed goodwill messages.
The highlights of the conference featured Agama and an Octogenarian, Senator Felix Bajomo, among the 80 Stockbrokers invested as Fellows by the CIS.