Our nation is on track for a gradual financial recovery from the visceral impact of COVID-19 on business operations. According to the National Bureau of Statistics (NBS), aggregate output, measured by gross domestic product (GDP), increased 1.87% in the first quarter of 2020, but contracted 6.10% and 3. 62% in the second and third quarters respectively, before rising 0.11% in Q4 2020. The report encourages cautious optimism from individuals and businesses as uncertainty still hangs over Nigeria’s economic future .
As a strong advocate for transformational change in the capital market, the NGX has focused on adopting inventive strategies with financial empowerment and inclusion as primary goals. Innovations such as demutualization, launch of IPO portal, launch of Growth Board, market awareness of innovative capital flows through sustainable and Islamic finance, ETFs, derivatives, etc. are critical areas for the growth of the stock market, led by Temi Popoola CFA, CEO of NGX
If there is one thing the pandemic has accelerated, it is the need for the public and private sectors to pivot their operations to adapt with a certain type of agility attributed to leveraging innovative solutions to ensure a more sustainable future. With the status quo stalled for over a year, we’ve had enough time to think about 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%), growing debt and an infrastructure deficit estimated at $ 3 billion.
So what would it take to point the country in the right direction and create positive change for its people? These are the questions of the flagship edition of the NGX Capital Market Conference scheduled for Tuesday, November 30, on the theme – The capital market ready for the future: Innovating for a sustainable recovery in Nigeria.
The aim of the conference is to bring together policy experts, business leaders, investors, international development partners, industry regulators, etc. to share key ideas that would be the catalyst for the economic growth of the country.
The flagship edition of the NGX conference is another initiative under Temi’s leadership, which illustrates the central role he believes the capital market plays in promoting and democratizing wealth creation for the country.