Our nation is on course for a gradual financial recovery after the visceral impact of COVID-19 on commercial activities. According to the National Bureau of Statistics (NBS), aggregate output, measured by Gross Domestic Product (GDP), grew by 1.87% in the first quarter of 2020 but contracted by 6.10% and 3.62% in Q2 and Q3, respectively, before increasing by 0.11% in Q4,2020. The report encourages cautious optimism from individuals and businesses alike as uncertainty still looms over Nigeria’s economic future.
As a firm advocate for transformational change in the capital market, the NGX has focused on adopting inventive strategies with financial empowerment and inclusion as the core objectives. Innovations such as the demutualisation, launch of the IPO portal, the launch of the Growth Board, market awareness for innovative capital flows through sustainable and Islamic financing, ETFs, derivatives, etc. are critical focus areas for the growth of the Exchange, led by Temi Popoola CFA, Chief Executive Officer at NGX
If there’s one thing the pandemic accelerated, it is the need for the public and private sectors to pivot their operations to adapt with a certain kind of agility attributed to leveraging innovative solutions towards securing a more sustainable future. With “business as usual” halted for well over a year, we have had enough time to reflect on what needs to change to address some of the country’s most pressing societal issues. Currently, the government is grappling with the problems of inflation (17.33%), unemployment (33.3%), burgeoning debt, and an infrastructure gap estimated at $3trn.
So, what would it take to steer the country in the right direction and create a positive change for its people? These are the questions of the flagship edition of the NGX Capital Market Conference slated for Tuesday,30 November, themed – The future-ready capital market: Innovating for Nigeria’s sustainable recovery.”
The conference’s objective is to bring together policy experts, business leaders, investors, international development partners, industry regulators, etc., to share critical insights that would be the catalyst towards achieving economic growth for the country.
The flagship edition of the NGX conference is another initiative under Temi’s leadership, which exemplifies the pivotal role he believes the capital market has in promoting and democratising wealth generation for the country.