Private sector activities have been described as key drivers for economic growth and development as they create jobs and pay the taxes that finance services and investments.
This was stated by Acting Director-General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk during the inauguration of the SEC Private Equity Committee in Abuja, weekend.
Uduk, who was represented by Acting Executive Commissioner Corporate Services of the SEC, Mr. Henry Rowlands, said the inauguration of the SEC Private Equity Committee is ahead of the planned National Private Equity Summit.
Uduk said the event is an epoch making one for the country as it underscores one of its objectives of facilitating proper understanding and appreciation by government of the importance of private sector activities as key drivers of private sector led economic growth.
She said the Nigerian government recognised the importance of private sector-led economic growth, hence it has put in place several partnerships and initiatives between the private sector and the government with a view to achieving optimal economic growth.
In his remarks, Head, Investment Management Department, SEC, Mr. Efiok Ekpenyong Efiok, said the SEC Private Equity Committee is a SEC-driven Committee based on Private sector initiative led by Henshaw Capital Partners in collaboration with key financial sector stakeholders, Federal Government and private sector Institutions.
Efiok said the institutions include Central Bank of Nigeria, Nigerian Sovereign Wealth Fund, National Pensions Commission, Infrastructure Concession Regulatory Commission (ICRC), the Nigerian Stock Exchange (NSE), and Nigerian Association of Securities Dealers.
