A robust domestic capital market would enable government and companies to access long-term finance, increase investments, and promote sustainable growth and greater employment opportunities for a growing middle class.

The above were the words of Group Managing Director/Chief Executive Officer, Nigerian Exchange Group Plc, Oscar Onyema, yesterday, at the City Businessnews Summit/Awards 2023 in Lagos, titled ‘Repositioning Nigerian Economy: 2023 and Beyond.’

He said in the coming years, capital markets will play an even bigger role by facilitating the mobilisation of more private capital into key sectors such as energy, infrastructure, housing, Small and Medium Enterprises (SMEs) and sustainable finance.

Onyema, who was represented by Group Chief Investment Officer, Nigerian Exchange Group, (NGX), Tony Idugboe, said revitalising the Nigerian economy is key to the nation’s development.

According to him, the economic situation in the country necessitates the need to explore other options of generating revenue and attracting investors both locally and internationally.He said one of the key areas that could boost the economy and create enormous opportunities for investors is the capital market.

Investing in the capital market gives the nation an opportunity to unlock new avenues for economic growth and development, Onyema added. He said the capital market serves as a platform for government and businesses to access funds from a broad range of investors, enabling them to expand, innovate and create new job opportunities.

Also speaking, Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, lauded the move by President Tinubu to put in place a performance management framework as part of the governance process.

He said it would create a culture of result orientation in public service. If well implemented, Yusuf held that the barometer would engender better economy and life.