The vice president of Nigeria, Yemi Osinbajo has stated that with more room to redefine the exchange for international competitiveness and the largest concentration of young people in the primary market, Nigeria is in a better position to advance its capital markets locally and globally.
Osinbajo expressed the view in his keynote speech at the first Capital Market Conference of the Nigerian Exchange (NGX) Group, which held in Abuja on Wednesday, December 1, 2021. According to the vice president, “every smart investor must be looking now at how to be a part of the miracle of the Nigerian Unicorns, the about five or six indigenous Nigerian companies (driven by young Nigerians) that became billion-dollar enterprises since 2015 in the midst of two recessions.”
READ ALSO: 2023: N350million Collected For Osinbajo Presidential Ambition Divides Yoruba Nation Agitation, Ilana Omo Oodua Group
Yemi Osinbajo canvassed for the adoption of technology “to bring in a new crop of young investors, many of who use their smartphones primarily for engaging with commerce and banking activities today. “And you have commendably begun the journey to the digital transformation of the market, following the highly successful example of the banks and, of course, the telcos.” He added that: “Today, the huge retail outlets already created by the telcos, with well over a hundred million subscribers, the wide reach of banks, especially with the numerous financial inclusion initiatives, make this probably the most auspicious moment for digitizing the capital market to bring in the millions of new young retail investors.”
READ ALSO: Buhari Has No Power To Release Nnamdi Kanu – Festus Keyamo
The conference also featured remarks by the Speaker of the House of Representatives Femi Gbajabiamila; Senator Ibikunle Amosun – who represented the Senate President, Ahmed Lawan; Conference chairman, and Chairman, BUA Group, Alhaji Abdul Samad Rabiu; and goodwill messages (via Zoom video) from His Royal Highness, Muhammadu Sanusi II; and the Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda. The event also had in attendance the Governor of Ekiti State and Chairman, Nigerian Governors’ Forum, Dr. Kayode Fayemi; Niger State Governor, Abubakar Bello; Edo State Governor, Godwin Obaseki; among others.
Trending video of the day;
Photo Credit: Getty
Also Read: FG Can’t Pay ASUU N200bn At Once - Minister Schools Lecturers, Says Strike Won’t Produce Money