The Federal Government yesterday said it was planning a stakeholders’ forum for investors in the power sector with a view to identifying the Gencos and Discos investors’ funding and other critical challenges and seeing how the unexplored investment opportunities in the nation’s capital market could be explored for their benefits and those of others interested in investing in the nation’s infrastructure.
Making the disclosure at the opening session of the 3rd Annual Retreat of the Capital Market Committee (CMC), which was flagged off in Abuja, the Minister of State for Finance, Dr Yerima Ngama, said invitations were already being sent out to multilateral institutions and other development agencies for the forum slated for February 2014.
He explained that the need to hold the forum had become more imperative in view of the need to ensure that the required medium and long term funding are provided for the new investors in order to consolidate the achievements recorded so far in the privatisation of the PHCN’s successor companies.
Ngama, who noted that the nation’s capital market had exhibited very impressive performance in the past years, growing to an all time high of about 38.8 per cent, said government would continue to do everything necessary to support the growth of the capital market as a strategic option of further opening it as long term funding access and transforming it into a wealth creation source for all investors.
While noting that the Securities and Exchange Commission (SEC) has done well in trying to make the stock exchange as one of the best 10 globally through regulatory and other measures being put in place by the Board and management, the Minister explained that there was still more to do in the areas of encouraging retail investors to come to the bourse and invest.
The Minister said he was delighted that the capital market community had risen to this challenge of creating enabling investment environment for the development of the nation’s infrastructure, adding that what is left is for all stakeholders to come together and see how we can raise funds, pool funds together since the whole of economy is based on demand and supply and that if somebody cannot come to list to look for money, Nigeria can raise the money and look for them.