The Securities and Exchange Commission is designing a ten year master plan to help reposition the capital market as well as doubling the size of the market capitalization of the Nigerian Stock Exchange.
The Director-General, SEC, Aruma Oteh, disclosed this on Wednesday in Abuja, while speaking at the Capital Market Committee retreat.
She said, given the current biting economic conditions facing the country, the time had come for Nigerians to begin to consider innovative ways to create wealth.
Sp“It is good that we will have a guide for the next ten years like what Malaysia did by doubling the size of its market with a master plan and now they are focused on another one.
“It is an important initiative and the technical session should come up with creative ideas to move our country forward over the next ten years with the Masterplan.
“This is the time to think about creating wealth and one of the challenges is that there is not just enough ideas even when there is growth that touches every one of us particularly the ordinary citizens.”
On the importance of generating a ten-year master plan, Oteh said, the innovation if well utilized would lead to a positive transformation of the Nigerian economy.
“This new venture is even more important for us as we continue to look for ways that we can make sure we transform society by focusing on what is important which is really supporting the real sector and those who are making a difference.
“One of the things I find that is particularly unique about the CMC retreat is that it focuses on the capital market master plan on what would be our guide for the next 10 years.
“For me, seeing where we are now; where there is a value around the capital market in transforming the economy, where there is an alignment as to what we can do as a community to make sure that we can help Nigeria realize its potential.”
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