Nigeria Economy must grow at 8 to 10 per cent to enjoy per capita income growth -Onyema

The Chief Executive Officer of the Nigerian Stock Exchange NSE, Mr Oscar Onyema has said for Nigeria to enjoy robust real per capita income growth, the nation’s economy must grow at over 8 to 10 per cent.

Onyema who stated this in Lagos when minister for Finance visited NSE yesterday said that the country must control inflation to single digit rates.

He said that achieving this growth is not a short term task but a long term one, adding that Nigerians are looking forward to the Economic Recovery and Growth Plan (ERGP) to address this essential economic threat of a sustained slow growth.

He said that the government’s fiscal and monetary reforms over the past two months have shown some extent at tackling the nation’s challenges.

He further said that the Exchange journey to becoming a demutualised entity has reached its final stage with a court ordered meeting and an extra ordinary general meeting slated next month.

Onyema said “as the we transform operationally and institutionally, we are confident in becoming even better positioned to support the government in raising the right sized and long term development capital required for financing its economics objectives.

He said “apart from supporting capital raising efforts of government through innovative products such as green bonds, NSE has developed a framework that supports the issuance, listing of tax credits, in order to complement the road infrastructure development and refurbishment investment scheme.”

Speaking further he said ” we are equally positioned to unlock significant investment value for the nation through listing of public entities and state owned enterprises as well as promote the knowledge economy in terms of public capacity building through our technology based learning management system-the NSE X-Academy.

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