Abiodun Seeks Synergy With Capital Market For Infrastructure Development

Ogun State Governor Dapo Abiodun yesterday advocated for robust collaboration between the states, federal government and the capital market in raising funds for the provision of needed infrastructure in the country.

Governor Abiodun, who spoke as the special guest of honour at the 27th annual conference of the Chartered Institute of Stockbrokers held in Abeokuta, said basic infrastructure was key in engendering socio-economic development as no country could expand its economic base without adequate infrastructure.

The governor said the stock exchange serves as a veritable source of funds, which governments can tap into for the execution of various projects, adding that Ogun State is willing to take advantage of this in the near future.

“The stock exchange is extremely important to the economy of any country. In the case of Nigeria, they should look at how they can ensure that we have transparency, accountability, and good governance on matters that relate to the oversight and operations of the stock exchange.

“On the other hand, we can find ways to collaborate with the exchange and how the exchange can help in aggregating the required capital to provide the needed infrastructure for this country because what is required to uplift and unlock the economy of any country is infrastructure and if the capital market can take particular interest in that, every other thing will be positively impacted in multiplying effects.

“So, it is important for us to look at how the subnational and even the federal government can collaborate and partner the stock exchange to unlock the much needed infrastructure of Nigeria. You can come to Ogun State by road, rail, or by air, that is because we found the fund to achieve that.”

In his welcome address, the president and chairman of the institute, Mr. Oluwole Adeosun, said the capital market plays an important role in the development of the economy of any nation.

He added that the conference would ensure that members from all over the country bond together in brotherhood irrespective of where they are located.