How to drive $1trn economy — SEC DG

The Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, has charged Stockbrokers and other capital market stakeholders to harness the full potential of the capital market to achieve a prosperous and sustainable future.

Agama said the ambitious goal of a $1.0 trillion economy can only be achieved through the collective efforts of all stakeholders in the financial ecosystem.

He spoke at the 28th annual conference of the Chartered Institute of Stockbrokers (CIS), themed ‘Capital Market as a Catalyst for the $1.0trn Economy’ held in Ibadan, Oyo State.

He said 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.

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According to him, the capital market is not only a platform for raising funds but also a vital engine for wealth creation, economic diversification, and infrastructure development, adding that by effectively channeling resources into productive sectors, it can stimulate industrial growth and technological advancement.

“This conference provides an opportunity to identify and address key barriers that have hindered optimal capital market performance, such as regulatory challenges, market liquidity, and investor confidence.

“Additionally, the role of technological innovations in the market cannot be overstated. Embracing fintech solutions, blockchain, and digital assets will further enhance market efficiency and transparency.

“The success of the $1.0 trillion economy vision largely depends on the collective efforts of all stakeholders in the financial ecosystem. By fostering collaboration between regulators, market operators, and policymakers, we can create a more resilient and inclusive market,” he stated.

President and Chairman of the Governing Council of the CIS, Mr Oluropo Dada, said the theme 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 $1trn as quickly as possible.