Kyari Bukar Urges FG to Implement Policies to Increase Size of Market Capitalization in Capital Market

The Chief Executive Officer, Africa Operations, Inlaks Limited, Kyari Bukar, has Suggested that the government implement policies to increase the level and size of market capitalization in the capital market, in order to promote financial literacy, and improve the regulatory environment.
He stated this while delivering a keynote address at the 39th Annual Omolayole Management Lecture Series, which held last week at the Nigerian Institute of Management (NIM) with the theme: ‘The interplay between capital markets and economic growth: exploring the dynamic relationship.’

Bukar highlighted the critical role that capital markets play in economic development.
He noted that capital markets provide businesses with access to long-term capital, which is essential for expansion and investment. Capital markets also create job opportunities and foster wealth creation.

He also discussed the challenges facing the Nigerian capital market, such as a lack of investor confidence, inadequate regulatory framework, low liquidity, infrastructure deficiencies, volatility and risk, limited access to capital, information asymmetry, foreign exchange controls, macroeconomic factors, political and security risks, and market depth.
Bukar provided policy recommendations to catalyze opportunities in the Nigerian capital market.

Speaking during her welcome address, the host of the 39th edition and President and Chairman of the Council of the Nigerian Institute of Management Chartered (NIM), Dr. Christiana Atako (FNIM), reiterated the importance of the capital markets in Nigeria’s economic prosperity and the need for Nigeria to improve its economic growth through the pillars of sustainable growth: knowledge, investment, innovation, job creation, infrastructure provision and economic stability.

In her remarks, he Institute’s Registrar and Chief Executive, Mrs. Taiwo Ganiyat Olusesi, MNIM, FCIS averred that the theme, focused on nuanced interrelation between capital markets and economic development, is profoundly relevant and pivotal in today’s age marked by swift technological progress, changing geopolitical undercurrents, and adaptive financial terrains.
“Often referred to as the pulsating heart of our economy, capital markets serve as essential pathways, directing savings and investments from capital providers, such as individual and institutional investors, to capital consumers including businesses, governments, and the general public. These markets stand as gauges of our economic vigor, mirrors of our assurance, and indicators of our prospective growth. The profound positive influence of Dr. Michael Omolayole, in whose honor the Lecture is organized, cannot be overemphasized. His significant contributions to globally renowned institutions and his visionary leadership remains our beacon,” Olusesi stated.

In her speech, co-host and President of the AIESEC Alumni Nigeria, Olubunmi Abejirin, emphasized the role of the capital markets in well-regulated markets as the life-blood of the economy and champion for innovation, commerce, infrastructure development, financial inclusion and job creation. She averred that within the current context of a depreciating Naira, inflation, mounting external debts, and rising fuel costs, there is no better moment for a deeper functioning of the capital markets than now, to intensify investments. She also emphasized the connection between the lecture series and Dr. Omolayole’s vision of fostering excellence in management and business leadership.

According to the AIESEC Alumni President, Dr. Omolayole has shown his nation-building capacity by continuously spearheading programs and initiatives that have propelled our indigenous leadership and management economy to greater heights. “He is proof of the high regard the corporate world as a collective hold for Dr. Omolayole, with the collaboration between the NIM, LCCI, NECA, and CIPM for almost a decade, enabling key stakeholders of high intellectual capacity to analyze and recommend new ideas to benefit the business and economic development of our country.”

The Omolayole Management Lecture Series (OML) honors the legacy of Dr. Michael Omolayole, a pioneering business leader and management icon who was the first Nigerian Chairman/Managing Director of Lever Brothers Nigeria Plc. (now Unilever Nigeria Plc.). His unparalleled achievements include being the only African to serve on the Board of Advisors of AIESEC International in Brussels.

The OML lecture had in attendance, captains of industries, CEOs of top corporations, management gurus, related government agencies, and financial institutions, and other guests from various sectors of the economy.

The 39th Omolayole Management Lecture Series was hosted by the Nigerian Institute of Management (NIM), in collaboration with the Lagos Chamber of Commerce and Industry (LCCI); Chartered Institute of Personnel Management (CIPM), Nigeria Employers’ Consultative Association (NECA), Omolayole and Associates, and AIESEC Alumni Nigeria (AAN).