NGX to support DMO to deepen the market

Nigerian Exchange Limited (NGX) has restated its commitment to support the Debt Management Office (DMO) to deepening the capital market. The CEO, NGX, Mr. Temi Popoola, CFA disclosed this at a strategic meeting with market stakeholders organised by the DMO in Lagos last week.

Popoola in his remarks acknowledged the contributions of the DMO to the growth of the capital market stating, “The Nigerian capital market is certainly deeper as a result of the activities of the DMO evidenced by products such as Sukuk Bonds, Eurobonds and Federal Government Bonds.

“It is evident to capital market enablers that we must adopt a collaborative approach to deepening our market for the benefit of all. At NGX, our efforts are focused on four key areas: first, how can we further diversify products through the securitisation of fixed income instruments; second, how can we build a platform where we can trade infrastructure tax credits; third, how do we tap into new sources of capital to improve retail investment and participation; and finally, how can we create access for diaspora investments. We are confident that with the right regulatory support and engagements such as this, we begin to build and deploy solutions that address these and more.”

On her part, the Director General, DMO, Ms. Patience Oniha, commended critical stakeholders for their role in helping the Federal Government build the Nigerian economy. She acknowledged the critical importance of debt financing in Nigeria especially as it relates to financing infrastructure projects. She stated, “Given the significance of debt in any economy, capital market enablers are integral to the development of the Nigerian economy making it imperative that we have engagements such as this. I thank you for all your commitment evidenced by your being here today and I believe that the DMO can continue to count on your support.”