Young people can take Nigeria's capital market to the next level, Osinbajo says

The vice president canvassed for the adoption of technology "to bring in a new crop of young investors."

Vice President Yemi Osinbajo SAN virtually presides over the National Economic Council Meeting in the State House, Abuja. 21st January 2021. [Twitter/Tolani Alli]

With more room to redefine the exchange for international competitiveness and the largest concentration of young people in the primary market, Nigeria is in a better position to advance its capital markets locally and globally, says Vice President Yemi Osinbajo.

Osinbajo expressed the view in his keynote speech at the first Capital Market Conference of the Nigerian Exchange (NGX) Group, which held in Abuja on Wednesday, December 1, 2021.

According to the vice president, “every smart investor must be looking now at how to be a part of the miracle of the Nigerian Unicorns, the about five or six indigenous Nigerian companies (driven by young Nigerians) that became billion-dollar enterprises since 2015 in the midst of two recessions.”

He canvassed for the adoption of technology "to bring in a new crop of young investors, many of who use their smartphones primarily for engaging with commerce and banking activities today.

"And you have commendably begun the journey to the digital transformation of the market, following the highly successful example of the banks and, of course, the telcos."

He added that: “Today, the huge retail outlets already created by the telcos, with well over a hundred million subscribers, the wide reach of banks, especially with the numerous financial inclusion initiatives, make this probably the most auspicious moment for digitizing the capital market to bring in the millions of new young retail investors.”

The conference also featured remarks by the Speaker of the House of Representatives Femi Gbajabiamila; Senator Ibikunle Amosun - who represented the Senate President, Ahmed Lawan; Conference chairman, and Chairman, BUA Group, Alhaji Abdul Samad Rabiu; and goodwill messages (via Zoom video) from His Royal Highness, Muhammadu Sanusi II; and the Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda.

The event also had in attendance the Governor of Ekiti State and Chairman, Nigerian Governors’ Forum, Dr. Kayode Fayemi; Niger State Governor, Abubakar Bello; Edo State Governor, Godwin Obaseki; Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed; and the host of the Conference, the CEO, Nigerian Exchange Limited, Mr. Temi Popoola, among others.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Ranked: Top 10 best airlines in Africa

Ranked: Top 10 best airlines in Africa

Sammie Okposo takes down apology post to wife amid cheating scandal

Sammie Okposo takes down apology post to wife amid cheating scandal

Man hiding in aeroplane’s wheel survives 11-hour flight from South Africa to Amsterdam

Man hiding in aeroplane’s wheel survives 11-hour flight from South Africa to Amsterdam

Angry reactions as bulldozer transporting heavy log puts fear in Ejisu residents (video)

Angry reactions as bulldozer transporting heavy log puts fear in Ejisu residents (video)

Female prison warden's dance with physically challenged prisoner sparks reactions (video)

Female prison warden's dance with physically challenged prisoner sparks reactions (video)

How to have s*x: Ladies, 5 things you shouldn't do in bed

How to have s*x: Ladies, 5 things you shouldn't do in bed

Nigeria vs Tunisia: Time & where to watch Super Eagles' R16 AFCON2021 tie vs Tunisia

Nigeria vs Tunisia: Time & where to watch Super Eagles' R16 AFCON2021 tie vs Tunisia

Banky W and Adesua Etomi celebrate their son as he turns 1

Banky W and Adesua Etomi celebrate their son as he turns 1

Presidency mocks Gov Ortom over unpaid salaries and pensions in Benue

Presidency mocks Gov Ortom over unpaid salaries and pensions in Benue