The Vice President, Kashim Shettima has called for active involvement of capital market stakeholder in bridging Nigeria’s $3 trillion infrastructure deficit.
Besides, Shettima also urged various exchanges to develop a focused strategy and create digital technology products that would attract youths to the nation’s stock market.
At the opening ceremony of the third West Africa Capital Market Conference (WACMaC) with the theme: “Infrastructural Deficit and Sustainable Financing in an Integrated West African Capital Market,” held in Lagos yesterday, Shettima said there was need for regulators and operators to focus more on initiative that would help address the nation’s infrastructure gap and enhance rapid development.
He pointed out that there is an urgent need to address the issue of infrastructure deficit in Nigeria, noting that the country is faced with such a huge deficit; it presupposes that the entire region has similar or perhaps larger infrastructural deficits waiting to be filled.
Shettima, who was represented by the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Tope Fasua, also stated that infrastructural deficits in the West African sub region are better tackled ‘from inside’ and not through foreign borrowing alone.