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CMC set to unveil capital market master plan

By on November 18, 2014

The Capital Market Committee says it will unveil the capital market master plan, a 10-year plan, aimed at ensuring the guided growth of the Nigerian capital market at its yearly retreat in Abuja.

The CMC had in September at its third quarterly meeting in Lagos said it was finalising work on the plan, which is meant to cover the period from 2015 to 2025.

The Chair of the retreat organising committee, Mrs. Oluwatoyin Sanni, announced the decision in Lagos while briefing journalists on the forthcoming retreat, scheduled to take place from November 26 to 28.

In general, she said the retreat would focus on infrastructure and Small and Medium Enterprises financing.

This, according to her, will be in addition to talks about the opportunities in the capital market and efforts to increase investor confidence and encourage greater participation in the market.

Sanni, who stressed that strong infrastructure base and the SMEs were vital to the growth of all economies especially in wealth creation and distribution, gave the theme of the retreat as ‘Capital market – creating wealth and opportunity.’

She also said stakeholders at the retreat would review strategies through which the gains of the Gross Domestic Product rebasing could be distributed through the capital market.

She said, “We need to tie up the market and reach out to people that are driving the transformation programme of the country because we are passionate about growing the market. Domestic investors’ confidence is paramount and we would continue to explore this area.

“The percentage of the capital market to GDP is still very low and a lot still need to be done and this is the opportunity to link capital market to wealth creation.”

According to her, more than 800 participants from various sectors of the economy are expected to attend the retreat along with key functionaries such as the Minister of Finance, Dr. Ngozi Okonjo-Iweala, and other ministers as well as state governors.

The Capital Market Committee was established to serve mainly as a medium for exchange of ideas among market stakeholders as well as for feedback to Securities and Exchange Commission on how to continuously improve the market activities and regulation.

It is an industry-wide committee comprising members of the commission, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter to deliberate on various issues affecting the market and other policy matters.

 

[Punch]