Abuja – The Securities and Exchange Commission (SEC) says it has completed arrangements to chart the way forward for the implementation of the 2017 Budget currently before the National Assembly.
The Head of Corporate Communications, SEC, Mr Naif Abdulsalam ,said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
Abdulsalam said SEC would assemble stakeholders in the capital market and the economy on Feb.9 at a seminar to deliberate on ways of achieving this.
He said the seminar, which would take place at the commission’s head office in Lagos, would illuminate ways in which the capital market could complement government efforts in the budget implementation.
He said it would also state the stands of the capital market in respect of the budget.
“ This is the time when all hands must be on deck to ensure the successful implementation of the 2017 budget.
“ The budget is tagged,` Budget of growth and recovery’ and the capital market wants to tag along to ensure the successful implementation.
“Everywhere in the world, the capital market is referred to as the engine of growth for the socio-economic development of every nation.
“And it plays a very important role by contributing not less than 80 per cent of the country’s GDP.
“But in Nigeria, the capital market contributes probably about 20 per cent or less than that to the GDP.
“ This is why SEC is spear heading this seminar to ensure the capital market plays its role towards the growth and recovery of the budget,’’ Abdulsalam said.
He said,“ at the seminar, we are going to invite academicians , economists and capital market practitioners to look at 2017 budget.
“They will look at the implications in the capital market and proffer solutions on how government can leverage on the capital market to achieve growth.”
