Stockbrokers Chart Pathway for Nigeria’s $1tn Economy Ambition

Kayode Tokede

Worried by the inclement operating environment in Nigeria, Chartered Institute of Stockbrokers  (CIS) is set to leverage its members’ strong financial background to identify strategies by which the federal government can grow the economy to its $1.0 trillion target. 

Besides, the institute’s plan to showcase innovative solutions for capital market expansion and economic growth and development, shall form the fulcrum of its 28th Annual Stockbrokers Conference, scheduled for November 7th and 8th, 2024in Ibadan, Oyo State capital. 

The two-day Conference, themed: “Capital Market as a Catalyst for the $1.0 Trillion Economy,” to be held in Ibadan, aims to explore the critical role of the capital market in driving Nigeria’s economic growth and achieving a trillion-dollar economy.

A Statement, signed by the Institute’s Registrar and Chief Executive, Dr Josiah Akerewusi, indicates that participants shall examine the current state of the Nigerian economy and identify areas for improvement, discuss strategies for enhancing the capital market’s contribution to economic growth and foster  collaboration among stakeholders to drive policy reforms and regulatory enhancements amongst others. 

“As we all know, the Federal Government under the leadership of President Bola Ahmed Tinubu has articulated the vision of attaining a $1 trillion economy during his tenure and we firmly believe that Nigerian Capital being a key driver of the economy is well positioned to drive the actualisation of the vision. We are convinced that the Nigerian Capital Market can generate up to half of the envisaged $1 trillion.

“The choice of Ibadan for this year’s Conference is intentional. Ibadan is an ancient city with lots of attractions that will create great memories for every participant.  It is an avenue for stockbrokers to take time out of the hustling and bustling of Lagos and be in a relaxed atmosphere to network and connect with each other. Ibadan has a beautiful scenery and some of the listed companies have their factories in Ibadan,” 1st Vice President, Fiona Ahimie said.

Corroborating her, the Vice Chairman, Annual ConferenceCommittee, Simisola Ojumu, highlighted the uniqueness of the 2024 Conference, saying: ” The panel sessions have been carefully structured to address critical issues about making the Nigerian business environment attractive for doing business to attract more domestic and foreign investment. The sessions will address policy and regulatory framework for optimal capital market performance. There will also be deliberations on how digital innovation can be harnessed for overall growth and development of the capital market ecosystem.”