The Revised Capital Market Grasp Plan 2015-2025 (RCMMP), developed by the Securities and Alternate Fee (SEC) Nigeria in collaboration with stakeholders, has been described as able to offering a blueprint to harness these alternatives to raised place the capital market because the engine of our financial development and growth.
Director Basic of the Securities and Alternate Fee, Mr. Lamido Yuguda who acknowledged this lately, disclosed that the Grasp Plan captures the challenges of the capital market in actualizing its position to drive nationwide financial development and likewise proffers options to allow the capital market attain its full potential.
To place the Nigerian capital market as a key market in Africa, SEC Nigeria developed the 10-year CMMP in 2015. The CMMP is a blueprint for positioning the Nigerian capital market as an environment friendly and internationally aggressive market that may assist Nigeria’s emergence as a high 20 international financial system in step with Imaginative and prescient 20:2020.
Yuguda acknowledged that Nigeria within the final decade has firmly emerged as one of many main frontier markets in Africa with immense potential for important development because the aspiration of the Authorities to create alternatives for the non-public sector to be a significant engine of development that ensures enchancment within the welfare and lifestyle of the residents of our nice nation has been diligently articulated in Nigeria’s Medium-Time period Nationwide Growth Plan (MTNDP) 2021-2025.
In accordance with him, “The MTNDP emphasises growth of a deep, broadened and aggressive monetary system that’s higher positioned to assist non-public sector development and financial diversification. Capital Markets present a helpful means to mobilize capital and harness financial pursuits in an environment friendly method to drive innovation and development.”
The SEC boss mentioned the primary 5 years of the unique Capital Market Grasp Plan 2015-2025 (CMMP) implementation targeted on market and governance reforms within the aftermath of the worldwide monetary crises of 2008 and the Nigerian market correction that continued into 2009, with important success.
Whereas commending the Minister of Finance, Funds & Nationwide Planning Mrs. Zainab Ahmed for her unflinching assist, Yuguda assured that along with market stakeholders, the SEC intends to steer the implementation of the RCMMP over the subsequent 4 years and in-line with the goals of the MTNDP. This he mentioned is a crucial success issue within the quest to fulfil the dream of a affluent and peaceable Nigeria for all residents.
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