The Nigerian Capital Market Roundtable (CMR), a meeting point for all categories of past and present operators in the Nigerian Capital Market, has called on governments at all levels to invest in technical education as this will speed up the country’s economic recovery process.
CMR, a non-governmental and non-profit forum made-up of tested professionals with genuine passion for best practices and the development and growth of the Capital Market in Nigeria, disclosed this in a paper to the leadership of the National Assembly last week.
They said the government should invest more in technical education at all levels, encourage faster domestic capital formation, supplemented with foreign investments and in ten to twenty years the economy will be radically transformed.
“The nation needs true transformation that will create more Dangotes. We will be looking for people to employ and the speculation in international circles will be when Nigeria will revalue its currency. Nigeria should learn from the history of South Korea, China and India. Yes we can; it would only take sincere leadership and commitment to a lasting vision that will deliver Nigerians and take the economy me to desired level”, the Forum stated.
The Forum, which is structured to serve as an intellectual power house in the Nigerian Capital Market for the good of a vibrant national economy as a going concern, added that though the operating environment has its own peculiarities, the Nigerian Capital is capable of providing the needed support to assist the country is getting out of the current economic predicament.
“A capital market that will entrench lasting effective and productive policies that will contribute to a vibrant economy must factor into consideration the foundation of the market by essentially putting into consideration where they were coming from, where it is now and where it should be as a going concern in view of a continuously changing operating environment.
“Nominal players in all tiers of the market have a unique place in the evolution of the Nigerian Stock Market. Any policy that will phase out this deck in the system out-rightly may not augur well for the market and the national economy.
“A fruitful nation that will sustain a vibrant economy creates a political and economic space capable of re-jigging its commitment rules without stifling productive enterprises of the formal and informal players. In essence there should be room for small and big players to ply their trades in an effective and well structured manner all other things being equal.
“A Capital Market Structure that facilitates a transparently fair system as much as possible has no rival; it is the ultimate and the recommendation of the CMR”, the Forum stated.