The Chartered Institute of Stockbrokers (CIS), led by President Oluwole Adeosun, has proposed the adoption of Public-Private Partnerships (PPPs) to boost Nigeria’s economic growth, News About Nigeria reports.
These solutions were deliberated upon at the 2023 Annual National Workshop of CIS in Abuja, which focused on leveraging the capital market for effective national economic growth.
During the workshop, Adeosun expressed concern over the lack of double-digit GDP growth since 2002, attributing it to the foundations laid in the 1970s and 1980s.
Speaking on the distinctive potential of PPPs, he asserted that optimal utilization of the capital market would significantly accelerate Nigeria’s GDP growth. Adeosun proposed the adoption of Public-Private Partnerships (PPPs) and increased revenue through taxation.
The estimated $3 trillion infrastructure deficit over the next 30 years was highlighted, constituting 30% of the GDP, in contrast to 70% of other middle-income nations.
Adeosun, genuinely concerned, emphasized the importance of fostering innovative ideas and political will to rectify this setback.
He also stressed the importance of fostering innovative ideas and perseverance and urged the people to show genuine concern and political will to correct this setback.
Dr Ayo Teriba, Chief Executive Officer of Economic Associates, also spoke at the workshop, addressing the need to tackle Nigeria’s illiquidity issues.
He pointed out fiscal, forex, and systemic illiquidity challenges and emphasized that addressing liquidity is crucial for countering insecurity, rising inflation, and other macroeconomic challenges.
Teriba suggested that Nigeria should leverage its assets for economic growth rather than relying solely on taxation revenue.
