Economic Growth as a Policy Driver in 2023 – Stockbrokers – :::… The Tide News Online :::…


The Chair of Research and Technology of the Chartered Institute of Stockbrokers (CIS), Mr. Akeem Oyewale, said economic growth and development should be the driving factor for policies in 2023.
Oyewale, who recently said this at the institute’s Annual National Economic Review and 2022 Outlook webinar in Lagos, urged policy makers to act in a spirit of justice and tolerance to avoid actions that could lead to violence as we approach 2023.
Speaking on the topic, “Global dynamics are shaping Nigeria’s economic future,” Oyewale listed factors such as the process leading up to the 2023 general elections, the response to Omicron and the effects of COVID-19, such as this which would also determine the growth of the nation’s economic development.
He used these forums to urge the federal government to step up its engagement with the Nigerian capital market to better finance the 2022 budget deficit without increasing borrowing.
Oyewale also called on the Central Bank of Nigeria (CBN) to take full account of capital market effects when making monetary and fiscal policies.
According to him, the philosophy of building a private sector-led economy enshrined in the National Development Plan must be strictly adhered to.
Regarding the need for new listings, Oyewale said trading of the Nigeria National Petroleum Company is expected to continue with the public listing of its shares on the stock exchange.
This, he explained, would give Nigerians the opportunity to become co-owners of one of the country’s towering peaks.
“The CBN and banks should grant trading facilities to securities trading companies in the country to maintain optimism in the capital market,” he said.
Speaking further, he urged pension funds and other institutional investors to increase their investment in the stock market to create much-needed stability and encourage new investment.
Earlier, the Chairman of the IEC Council, Mr. Olatunde Amolegbe, said that the institute will continue its initiatives that will enhance its growth and development in 2022.
Amolegbe said that CIS would undertake activities that would promote knowledge of capital markets in all geopolitical areas of the country, saying that it would strengthen collaboration with international professional bodies such as CISI UK and others for the benefit of their members.
He went on to say that the institute is working to increase the number of Nigerian universities offering undergraduate and undergraduate courses in securities and investment/capital market studies.
“Our vision by 2023 is to see the securities and investment profession enshrined in the hearts of young Nigerian scholars as their preferred career path and the IEC as the role model for other professional bodies to follow,” a- he concluded.


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