Industry

I. Introduction THE month of June 2007 marked yet another significant point in the juridical development of the Nigerian capital market, with the enactment of a new Investments and Securities Act (ISA) to replace the pre-existing 1999 Act. The passage of the new ISA was the culmination of a long process of consultation starting with the inauguration of a panel of capital market experts under the Chairmanship of the House of Representatives' Capital Market Committee Chairman, Honourable Ahmed Aliyu Wadada, which panel's findings and recommendations later resulted in the ISA 2007.

THAT the world's eighth largest oil producer has a pitiable industrial sector speaks volumes on quality of Nigeria's leaders, especially since the era of Structural Adjustment Programme (SAP), when phenomenal de-industrialisation crept into the nation's economic set-up. The statistics are indeed appalling.