The Director General of the Securities and Exchange Commission, Emomotimi Agama, has stated that Nigeria needs over $50bn to bridge its infrastructure gap.
According to a statement made available to our correspondent on Sunday, Agama disclosed this during a panel session at a stakeholders programme themed, ‘Financing the Future in Nigeria’ in Lagos recently.
He emphasised that the capital market has the capacity to play a role in financing this gap, provided that adequate awareness and education are fostered among investors.
He noted the capital market’s potential in mobilising funds across various sectors, stating, “The capital market is the barometer of any economy.”
He stressed that Nigeria had the potential to achieve a $1tn economy as envisioned by President Bola Tinubu. The ambition, he said, could be realised through the effective utilisation of the capital market, alongside sectors such as mining, oil and gas, construction, and housing.
Highlighting the necessity for improved investor education, Agama remarked, “We need to strengthen the base of the capital market where funds are raised. Market-creative initiatives must be encouraged to facilitate this growth.”
