Nigeria Needs Domestic Savings, Foreign Capital To Tackle Needs - Osinbajo - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
November 7, 2019
The Federal Government has stressed the need formobilisation of domestic savings and foreign capital to finance the country’sneeds in infrastructure, agriculture, housing SMEs and other services.
Vice President Yemi Osinbajo stated this in a keynoteaddress delivered at the 2019 FMDQ Nigerian Capital Markets Conference inLagos. He said that Nigeria required more capital to grow, develop and attainits potential.
Osinbajo, represented by Acting Director-General, theSecurities and Exchange Commission (SEC), Mary Uduk added that the countryneeded to mobilise more funds to address its needs.
He noted that an African Development Bank report onNigeria’s Infrastructure Plan in 2013 estimated that Nigeria would need toinvest about 350 billion dollars in 10 years to meet up with its peers.
Earlier in her opening address,  Uduk said thatthe Capital Market Master Plan (2015-2025) was launched to transform theNigerian capital market with a view to making it more competitive to enable itcontribute its quota to developing the nation, through funds mobilisation.