According to the Senate Committee on the capital market, the Nigerian capital market is a very essential tool that could rescue the nation’s economy from the brink of recession in the face of the coronavirus pandemic.
This was revealed by the Chairman of the Senate Committee on Capital Markets, Senator Ibikunle Amosun at the screening of new nominees.
During his submission, he stated that the capital market had the capacity to revive Nigeria’s poor state of infrastructure adding that the best time is now, for federal and state governments to take advantage of the opportunities provided by the capital market for sourcing infrastructure financing.
In his submission, he said;
“We now know what the capital market can do to rescue the economy at a time like this. Shares are tumbling but we hope it won’t last long.
However, we also have to look inward and explore ways of diversifying our economy away from crude oil. If we have to diversify our economy, the capital market has a role to play and that is why we are here to support you, and that is why we have suspended everything else to go on with this screening.
We will support the capital market for our country to realize these economic goals.”
Source: ghgossip.com
