Obaseki solicits stockbrokers’ support for National Sports Festival

The Edo State government yesterday solicited the support of the capital market community towards the forthcoming National Sports Festival (NSF).

Speaking at the ‘Closing Gong Ceremony’ held on the Nigerian Stock Exchange (NSE) in Lagos, Edo State Governor, Godwin Obaseki said the state has concluded plans to host the 20th edition of the NSF, tagged ‘Edo 2020,’ in Benin City from March 22 to April 1, 2020.

Obaseki said the state was on the Exchange to inform stockbrokers of the Festival, adding that it has always been the tradition of the capital market community to support sports activities in Nigeria.

“About 25 years ago, the president of the NSE, then the late chief MKO Abiola cheered the fund raising event for the Olympic Games for that year.

“Today, we are here to solicit the support of the capital market community in participating and supporting the National Sports Festival. The National Sports Festival is very important, not only because it caters for the interest of young people, but it is also an event put together in uniting the country.”

He stated that the sports festival and the National Youth Service Corps (NYSC) were among the instruments the government used to unite the country after the Civil War, adding that the state would come at an appropriate time to raise funds for developmental projects. He noted that Edo’s priority currently is to rally support for the sports festival.

Also speaking at the event, NSE’s Chief Executive Officer, Oscar Onyema said: “The governor has embarked on various projects, which includes civil service reforms, Edo Production Centre, Edo Innovation Hub, the New Enterprise and Industrial Hub, among others

“All these initiatives require funding, which the market can finance and as the governor has said, the state may be issuing one or two instruments in the future.”

He urged Edo State government to approach the market and access long-term capital to fund developmental projects and the agricultural sector, among others.

In his remarks, the former president of the Association of Stockbroking Houses of Nigeria (ASHON), Rasheed Yussuf assured the governor of stockbrokers’ unwavering support to the state.

He stressed the importance of the Nigerian Capital Market, saying it still remained the avenue where government could raise long-term capital to finance infrastructure, agriculture and other developmental projects.He urged government at all levels to leverage the instrumentality of the capital market to fund infrastructure and other long-term projects.