Chartered Institute of Stockbrokers President urges FG to invest in infrastructure

The new President and Chairman of Council for Chartered Institute of Stockbrokers, Mr Oluwaseyi Emmanuel Abe (FCS) has called on the Nigerian government to invest massively in infrastructural developments, productive and value generating ventures as a way out of the present economic crisis.

The President made this remark while briefing journalists during his investiture ceremony in Lagos.

He noted that at a time like this in the life of the nation, government’s efforts must be geared towards productivity.

He equally called on the government to visit the capital market to raise capital for infrastructure. He also asked for an enabling environment for small and medium scale businesses to thrive.

The event was co-chaired by Nigerian former Vice-President, Alhaji Atiku Abubakar and former Governor of Lagos State and Chieftain of the ruling party, Asiwaju Bola Ahmed Tinubu.

In his brief remark, Asiwaju Bola Tinubu acknowledged that Nigeria is blessed with abundance mineral and human resources but has problem in how to put them to use.

He called on Nigerians to be the change they want to see and allow the change begin with them.

The co-chairman, Alhaji Atiku Abubakar who read a prepared speech noted that a move away from oil rain will better our economy. According to him, oil money is not the requirement for diversifying our economy, but businesses must be strengthened to thrive.

He noted that while emphasis is not being laid on them adequately, agriculture, services and manufacturing all contributed to our GDP. He advised that rather than for Nigeria to pray for high oil revenue, the country must seize the opportunity of the dwindling oil price to invest in human capital.

The night was electrified with the keynote address delivered by Pioneer Managing Director of AMCON and Vice President Alpha Africa Advisory, Mustapha Chike Obi.

Speaking on the theme, ” Nigeria’s Economy: Growth The Only Imperatives”, Obi took a cursory look at the economy and its challenges. He noted that with massive infrastructure and encouragement for industrialisation Nigeria will in no distant time be among the top 5 economies in the world.

Afterwards, a panel of discussants moderated by former President of Nigerian Bar Association, Olisa Agbakoba offered suggestions on the ways out of the current economic crisis being faced by the country.

The event had in attendance many stakeholders and players in the capital and money markets. They include the former governor of Anambra State, Dr Peter Obi, ICAN Vice Chairman, Alhaji Ismaila Bakare, former Commissioner for Finance in Lagos State, Mr Wale Edun, and the current Lagos Finance Commissioner, Prof. Abiodun Akinkunmi.

Others include Chairman, Association of Stockbroking Houses of Nigeria (ASHON), Emeka Madubuike, Amb. Hassan Tukur, Executive Director, Nigeria Stock Exchange Mr Ade Bajomo among others.

For the investiture ceremony, the Chairman Council of past presidents of the institute, Mr Tola Mobolurin, FCS, invited all past presidents to the podium as he asked the immediate past president to decorate the new president. The new president was to later invest his predecessor into the league of past presidents in a colourful ceremony.