Tuesday, July 27, 2021

    FG urges NSE to promote citizen retail investment to help fund infrastructure

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    The Federal Government on Thursday advised capital market operators to consider retail investments to enable ordinary citizens in the country to invest in the market.

    Zainab Ahmed, Minister of Finance, Budget and National Planning, made the call at the 5th Budget Seminar webinar in Abuja.

    The seminar was organised by the Securities and Exchange Commission (SEC).

    Mrs Ahmed said retail investment would make citizens invest in the market in an easy and simple way.

    She described the theme of the seminar: “Financing Nigeria’s Budget and Infrastructure Deficits through the Capital Market” as apt, given the urgent need to build infrastructure in the country.

    The minister remarked that the capital market served as an important channel through which government budget and economic infrastructure deficits could be financed.

    “Past experiences have shown that the capital market has been supportive in providing the necessary funds to finance governments’ projects.

    “The budget is N13.95 trn, capital expenditure of N4.37trn amounting to 32.2 per cent of the total expenditure and overall deficit of N5.6 trn to be financed by almost equally domestic and foreign sources.

    “Government is committed to introducing more of these instruments in partnership with the capital market, to finance projects for economic growth.

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