Capital market is credible platform for finance – Minister

The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, says the Nigerian capital market is a credible platform for medium to long term finance for economic development.
Ahmed said this at a webinar organised by the Securities and Exchange Commission (SEC) in collaboration with the Ministry of Solid Minerals Development on Thursday.
The minister added that the nation’s capital market was a key catalyst for the development of the critical sectors of the economy.
The theme of the webinar was: “Financing the Solid Minerals Sector through the Capital Market and the Critical Role of Commodity Exchanges.”
Ahmed said the facilitation of funding and provision of structured market platforms such as the commodities exchanges portends significant addition for the mining and solid minerals sector.
She said the event and its theme were relevant to the economy given the need to diversify and grow the economy, and to enable the nation achieve sustainable development in the post COVID-19 pandemic era.
“The mining sector is strategically based as alternative source for revenue generation in the economic diversification plan of the Federal Government of Nigeria.
“It also has the potential to create employment and develop rural settings for other benefits,” she said.
Ahmed noted that the mineral export guidelines by the Federal Government was formulated to address the need to keep accurate mineral trade data.
She said it was also to ensure effective monitoring of the evacuation of export proceeds, to optimise the collection of royalties, and facilitate the implementation of free shipment inspection policies.


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