The Managing Director, Morgan Capital Securities Limited and an economic analyst, Mr Rotimi Olubi, has said that electioneering for 2023 general elections
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The Securities and Exchange Commission (SEC) has called on players in the capital market to leverage technology to improve financial inclusion to reach the untapped market.
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He noted that Nigeria recorded $1.44 trillion inflow of FDI in 2015 as against $1.028tr reported in 2020.
“It is a far cry compared to countries like Ghana whose receipts are two times what Nigeria realised and Egypt, which is seven times what we received. FDI is an important source of capital funding for a country like Nigeria. Nigeria needs to come out with appropriate policies that will attract FDI especially on foreign exchange,” he said.
He noted that for a less stable economy like Nigeria’s, assessment of social conflicts by potential investors will be a key consideration.
“On revenue, Chukwu said: “Nigeria has a huge revenue shortfall which means we have to look for funds outside government budget. Total revenue has remained largely flat between 2015 and 2020.”