Nigeria’ll Be Among World’s Most Liquid Capital Markets By 2025- SEC

The Securities and Exchange Commission, (SEC), on Monday in Abuja restated its commitment to ensuring that the country’s Commodities Ecosystem becomes vibrant and contributes to economic development
Acting Director-General of the SEC, Mary Uduk gave this assurance at the opening of a two-day capacity building programme on the commodities trading ecosystem for the staff of some federal ministries.
Already, she said, the commission is collaborating with relevant stakeholders to implement the 10-year capital market master plan aimed at transforming Nigeria into one of the world’s most liquid capital markets and Africa’s largest economy by 2025.
To achieve the target, however, she stressed the need for the Nigerian capital market to operate at an optimum level, even as the implementation of its 10-year master plan remains a priority.

Ahead of that target, however, she underscored the need for a vibrant commodities ecosystem to enhance the diversification of Nigeria’s economy from oil to the non-oil sector, while in the process boosting the government’s revenue stream and foreign exchange earnings.
Uduk, who was represented by Head, Registration, Exchanges, Market Infrastructure and Innovation at the commission, Emomotimi Agama, said “one of the crucial initiatives of the plan was to develop thriving commodities trading ecosystem and fully utilise the nation’s potentials.

“We believe that if we can develop a vibrant commodities trading ecosystem in Nigeria, we can substantially address lack of storage, poor pricing, non-standardisation and low contribution of foreign exchange affecting our commodities sub-sector,” the SEC boss stressed.
Commodity exchanges, Uduk continued, are critical to economic growth, especially in the areas of price transparency and value addition to farmers, ensuring quality products for buyers and providing investment opportunities across the value chain.
For her, Nigeria is still challenged in the area of transiting from an informal commodity trading system to one consummated on the platforms of commodity exchanges.

One of overcoming this, according to the SEC boss, is for the country to pay adequate attention to agriculture, and in the process, boost food security, enhance job creation and facilitate the production of raw materials for agro-processing.
The training is being organised in two tranches, the first tranche consists of staff of the Federal Ministry of Agriculture and Rural Development.

Photo caption: Head Registration, Exchanges, Market Infrastructure and Innovation Department, Securities and Exchange Commission, Emomotimi Agama, Managing Director, Nigeria Commodity Exchange Hajia Zaheera Baba-Ari and Divisional Head, Commodity Exchange Division SEC Mrs. Ojone kabir, during a Capacity Building Program on Commodities Trading Ecosystem for Staff of the Federal Ministries in Abuja, Monday.

https://investdata.com.ng/2019/11/nigeriall-be-among-worlds-most-liquid-capital-markets-by-2025-sec/