The Chartered Institute of Stockbrokers (CIS) on Tuesday said that the country would get out of recession with sound fiscal and monetary policy, innovation and development of all value chains.
The Managing Director, Fortress Capital Limited, Mr. Yomi Adeyemi, expressed the view at a news conference in Lagos to unveil the institute’s 20th Stockbrokers Annual Conference.
Adeyemi is the Chairman, Organising committee of the conference.
He said that sound fiscal and monetary policy, innovation and development of all value chains were necessary to revamp Nigeria’s economy from its current recessionary status.
Adeyemi said that all the stakeholders needed to work together for the growth and development of the economy.
He said that the institute’s 20th annual conference, in line with the present realities, would centre on “Building New Pillars, Creating New Values for Sustainable Development”.
Adeyemi said that the conference was coming at a period when all hands were on deck to address the challenges facing the nation’s economy and the effects on the capital market.
He said that the theme of the conference was based on the compelling need to strengthen the competitiveness of the Nigerian economy, of which the capital market was the hub of medium and long-term source of finance.
Adeyemi said that the conference was coming at “this critical stage of the Nigeria’s economy which is in dire need of double digit growth.”
He described the annual conference as a strategic forum to articulate issues that can move the Nigerian capital market and indeed the financial market forward.
“The conference is strategically packaged to provide a platform for aggregating robust ideas aimed at creating a sustainable development and reinforcing investor confidence in our capital market,” he said.
Adeyemi said that the 2016 conference would attract finance and industry experts who were expected to discuss the theme from various perspectives and proffer workable solutions.
He said that the forum would attract top government delegates, captains of industries in both the private and public sectors and capital market regulators, operators and investors.
“An important segment of the conference is the induction of our Associate members and Conferment of Fellowship to deserving members,” Adeyemi said.
Also speaking, Mrs. Lilian Olubi, the Chief Executive Officer, Primera Africa Securities Limited, said that the country needed to diversify to achieve meaningful growth and development.
“Nigeria cannot rely again on one pillar, which is oil, but needs to explore other opportunities offered by the capital market, agriculture and solid minerals, among others, to develop the economy,” Olubi said.
She said that good leadership qualities were paramount to achieve the needed growth and development.
Some of the expected speakers at the event coming up on Oct. 27 and 28 in Lagos are Prof. Yemi Osinbajo, the Vice President of Nigeria; Mr. Akinwunmi Ambode, Lagos State Governor, and Chief Olusegun Obasanjo, a former President of Nigeria.
Others are General Ibrahim Babangida, a former President of Nigeria; Alhaji Atiku Abubakar, former Vice President of Nigeria; Sen. Bola Tinubu, a former Governor of Lagos State; Mr Peter Obi, former Governor, Anambra State, and Mrs Kemi Adeosun, Finance Minister.
