By Itohan Abara-Laserian
Lagos, Feb. 9, 2021 A capital market scholar, Prof Uche Uwaleke, has stressed the need for the Federal Government to finance the 2021 budget deficit of over N5 trillion through the capital market.
Uwaleke, President, Capital Market Academics of Nigeria, said this at a webinar, while presenting a paper titled: Capital Market Pathways to Financing the FGN Budget Deficits (2021-2023) on Tuesday in Lagos.
The webinar was organised by the Chartered Institute of Stockbrokers (CIS) to present its Annual Global/Nigerian Economic Report themed: “The Nigerian Economic Review 2020 and Outlook for 2021 With Recommendations”.
He advised the Federal Government to fund the budget deficit by accessing the capital market for Green Bonds, securitisation and privatisation of some its entities.
By Goddy Egene
The stock market extended its losses for the third day as investors took more profit. As a result the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 1.1 per cent to close at 40,696.01 while market capitalisation shed N425.9 billion t o be at N21.3 trillion.
However, stockbrokers and some other stakeholders have listed the stimulation of private sector activities, creation of an intervention fund for securities dealing firms and consistency in government policies as strategies to grow the market.
They spoke at the 2021 annual economic review of the Chartered Institute of Stockbrokers (CIS) with the theme: “The Nigerian Economic Review for 2020 and Outlook for 2021 with Recommendations.”