The Vice President, Kashim Shettima has called for active involvement of capital market stakeholder in bridging Nigeria’s $3 trillion infrastructure deficit.
Sustained capital flight spurred by foreign exchange (Forex) crisis, insecurity and other macroeconomic challenges, exacerbated by inability of foreigners to repatriate their funds has triggered unprecedented capital flight in the nation..
Liquidity challenge in the foreign exchange (FX ) market has continued to worsen foreign investors' participation in the equities market as foreign transactions declined by 60 per cent to ₦62.18 billion in half year (H1), 2023.
With the assumption of office of President Bola Ahmed Tinubu, the Securities and Exchange Commission (SEC) has assured stakeholders of the readiness of the capital market to aid infrastructure development.
Market uncertainty, political risk and foreign exchange (FX) illiquidity and other headwinds have triggered an unprecedented drop in foreign appetite for the Nigerian capital market as total foreign transactions executed on the equities market declined by about 75 per cent in the last eight years.
Capital market experts have advocated a credible, free and fair election that willpave way for the incoming administration to tackle lingering macro economic challenges facing the economy especially the foreign exchange (forex) crisis.