The Managing Director of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda said that the capital market is open for business and willing to provide all necessary support to the Lagos Free Zone, among other companies to access capital cheap needed to improve growth.
Yuguda praised it during a joint SEC and Nigerian Exchange (NGX) visit to the Lagos Free Zone.
He praised the efforts of the management of the Lagos Free Zone to make investment opportunities available to Nigerians, ensuring the organization of the required regulatory support.
According to Yuguda, Nigeria has all the industries it needs to become a powerhouse in its own right.
âWe have the manpower, the raw materials and the market. Nigeria is a big market and if we can focus on this political framework, we will be able to develop our economy and create wealth for our citizens.
âI am very impressed with what is happening here, this place holds promise for the future of Nigeria. I am sure this kind of place will give others hope and courage to make meaningful investments in this country, âhe said.
Yuguda said the whole goal of the SEC is to see how the capital market can help investors who want to start businesses that produce goods that Nigerians can patronize and use.
In his remarks, LFZ Managing Director Mr. Dinesh Rathi expressed hope that the company’s operations would help Nigeria address some of the problems associated with industrialization.
Rathi said the LFZ is reassured by the SEC’s comments, which show the management is on the right track and pledged that the organization will ensure the goals set for the benefit of Nigerians are met.
âWe want the regulatory support to succeed and we believe that in the end we will help boost the industrialization of this country and stop forex theft. Nigeria benefits in the long term as jobs will be created as well as