An investment banker and the Head, Debt Capital Markets, FBNQuest Merchant Bank Limited, Mr Oluseun Olatidoye, has stressed the need for sound macroeconomic and policy frameworks to enable the capital market attract investors to long-term domestic projects. Olatidoye stated this in his presentation themed: “Bridging Nigeria’s infrastructure Gap, the Capital Market Option” in Lagos. He said the capital market represents a very good platform for raising funding for infrastructure development going by some landmark transactions in recent years.
ADVERTISEMENT HOW OVER 5000 NIGERIA MEN HAVE PERMANENTLY OVERCOME TERRIBLE BEDROOM PERFORMANCE DUE TO THIS RECENT DISCOVERY BY MEDICAL CONSULTANTS According to him, the market has funded over portions of 26 roads across the six geopolitical zones in the country with the sum of N200billion on the FGN Sukuk I and II.
“We have raised N11.4billion for the development of primary, middle Andrew secondary schools facilities in Osun State, we have funded the development of affordable housing on the Mixta Real Estate Plc Bond Issues and we have developed a number of roads, bridges, health facilities using the opportunity presented by the capital markets,” he said. However, considering the huge financial outlay that runs into trillions of naira, needed to bridge the gap, Olatidoye said to successfully tap into the capital market for infrastructural financing, the existence of sound macroeconomic and policy frameworks are pre-conditions, hence, freedom must be given market forces to take its course. He explained that on the retail side of the market, it was largely unarguable that capacity is more limited in the case of Nigeria.
SOURCE:DAILYTRUST
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