By Abubakar Yunusa
The Securities and Exchange Commission (SEC) has announced plans to educate state governments across Nigeria on the benefits and opportunities within the capital market.
Speaking during a meeting with representatives from the World Bank Group and the International Finance Corporation (IFC) in Abuja over the weekend, SEC Director General Dr. Emomotimi Agama highlighted the need to improve financial literacy among state governments to drive economic development.
Dr. Agama emphasized that the Commission’s outreach aims to enhance states’ understanding of investment strategies, regulatory frameworks, and financial markets.
He stressed the potential for economic growth through capital market investments, particularly in industrial production.
“Imagine setting up factories that will produce goods for export and generate foreign exchange. This would create jobs for Nigerians, leading to wealth creation and economic development,” he said.
He added that a lack of awareness is a significant barrier to state governments utilizing financial markets effectively.
The SEC will provide essential knowledge to unlock investment potential, particularly in states with untapped natural resources.
The initiative will begin with the Executive Council of a northern state, where SEC officials will outline opportunities in the capital market.
“We will create guides, reports, and policy briefs that simplify complex financial concepts and use case studies from states that have successfully raised capital through bonds or attracted investment,” Dr. Agama explained.
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