L-R: The Director General, Securities and Exchange Commission, Mr. Lamido Yuguda and the Deputy Governor of Lagos State, Dr. Obafemi Hamzat during a courtesy call at the Round house, Alausa, Ikeja.
The Lagos State government has advised the Securities and Exchange Commission to step up its public enlightenment to further educate Nigerians on the need to invest in Capital market.
The Deputy Governor, Dr. Obafemi Hamzat gave the advice when the Director General, Securities and Exchange Commission, Mr. Lamido Yuguda paid him a courtesy call at the State Secretariat , Alausa, Ikeja.
He said that capital investment had the capacity to boost nations’ economy if properly channeled.
Dr. Hamzat also called for the need to guide state governments on how to access loans to provide necessary infrastructure in their dormains to make life comfortable for the people.
Taking a cue from the Lagos Sate experience, the Deputy Governor said that the government would not have been able to.provide some infrastructural facilities being seen in the state today if it had not been able to access loans needed to put such facilities in place.
Making particular reference to the recent Blue Rail line transportation system and the various road constructions going on in the state, Dr. Hamzat said the state would not have been able to provide such infrastructure if it had not had access to capital loans.
He steessed that any loan incurred by governments or individuals for positive reasons like provison of infrastructure was a good means of investment which he believed would yield good returns at the end of the day.
In a remark, the Director General, Securities and Exchange Commission, Mr. Lamido Yuguda commended the Lagos State government for its dynamism in capital investment which had been visible in the development of the state.
He however, informed the Lagos State government of his Commision’s decision under the auspices of the West Africa Securities Regulators Association which is an Association of Capital Market Regulators in the West African Sub-Region, to bring experts across the sub-region to deliberate on how to ensure free movement of capital across the sub-region.
He explained that the English and French speaking countries in the West African sub-region had lots of economic potentials which if well harnessed would not only be beneficial to the individual countries but to the entire sub- region