Vice President Yemi Osinbajo, SAN, said that with more leeway to redefine trade for international competitiveness and the greater concentration of young people in the primary market, Nigeria is better positioned to advance its markets. of capital locally and globally.
He said so in his opening speech today in Abuja at the Nigerian Exchange Group’s First Capital Markets Conference.
The Vice President spoke at the event on “The Future-Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery,” according to a statement by his spokesperson Laolu Akande.
He said: “Every savvy investor must now seek to be a part of the miracle of the Nigerian unicorns, the five or six indigenous Nigerian businesses (run by young Nigerians) that have grown into billion dollar businesses since 2015 in the midst of two recessions.
The vice-president, who focused on the digital transformation of markets, highlighted the many opportunities that the move would offer to capital markets, including attracting more young investors.
Osinbajo advised the adoption of the technology “to attract a new generation of young investors, many of whom use their smartphones primarily to engage in business and banking activities today. And you have commendably started the journey to life. digital transformation of the market, following the very successful example of banks and, of course, telecommunications operators. ”
The vice president added: “Today, the huge outlets already created by telecommunications operators with more than a hundred million subscribers, the wide reach of banks, especially with the many initiatives of financial inclusion, probably make it the best time to digitize the capital market. to attract millions of new young individual investors.
The vice president also noted the efforts of the NGX Technology Board to attract technology companies to the market that he called “current and future technology unicorns” as a viable option for raising capital.
Osinbajo said the technology will also give “more investors the opportunity to benefit from the phenomenal growth of these companies.”