The investors, who bemoaned the shallow
knowledge of rudiments of the market, regretted that the capital market, which
is supposed to be the parameter and engine growth of the economy has been
neglected and given little attention by the government.
They argued that the economy reflects
the capital market and vice-versa, because Nigerian economy is the outcome of
commercial activities in the country, even as the market remains a critical hub
for commercial deals and parties to such transactions.
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Therefore, they
suggested that enlightenment on the benefits of the market must be intensified,
considering the fact that only five per cent of the nation’s population of over
200 million participates in stock market. http://www.tectono-business.com/2016/06/are-you-estate-surveyor-or-property.html
The shareholders
also underscored the need for the regulators to create more products that would
broaden the market and make it compete favourably with other exchanges across
the globe. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html Due to the recent catastrophic fall of
capital market, rapidly declining Foreign Direct Investment (FDI) and scarcity
of investment opportunities, investors in the nation’s capital market are
crying out for an innovative and versatile financial product such as derivative
securities for hedging and market expansion.
Specifically, the
Managing Director of Constance Shareholders Association, Mallam Shehu Makail, said the federal and state governments should
float bonds while private sector operators should introduce other sophisticated
instruments such as derivatives, securitization among others. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html He also emphasised that government must
encourage more private entities to be listed on the exchange by granting tax
holidays and patronizing the SMEs products.
He added that the cost of raising funds
should be reduced to encourage companies to source funds from the market to
finance long-term projects.
The Managing Director of New Dimension
Shareholders Association, Patrick Ajudua,
said: “The capital market is being affected by several
factors: unfavorable business environment, unstable oil prices, economic
recession, global foreign exchange instability & inconsistent government
policies. When all these variables are addressed by the government, the capital
market would be enhanced to act as a catalyst for growth and development of the
economy.”
The Publicity Secretary of the
Independence Shareholders Association of Nigeria, Moses Igbrude, said the capital market drivers the economy of
countries that recognises the relevance of the sector to economic growth.
He said, “The
Nigerian capital market has failed to play the role of key economic drive
because all the stakeholders have failed to play their various roles as
expected. “The Federal Government with those empowered to pilot the affairs of
the country seem not to understand the importance of the capital market not to
talk of how to use it to accelerate economic growth.
“They consistently initiate
unfriendly policies. Again high cost of funds, multiple foreign exchanges,
porous borders that allow free flow of imported goods to the detriment of local
industries are still in existence in the country.” (Guardian)
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Are
you tired of your car’s same old look? Is your vehicle losing shape &
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right time to come to GOF Autos Limited for priming, panel
beating, painting (with Sikkens paint) and oven baking at rate of N70,000
for cars and N80,000 for SUVs. For details, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html
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