SEC Supports $1 Trillion Economic Target and Infrastructure Financing

• SEC reaffirms commitment to boost the capital market, aligning with President Tinubu’s goal of achieving a $1 trillion economy
• SEC establishes a group within the market to assist in reaching economic targets, focusing on addressing infrastructure deficits for growth

The Securities and Exchange Commission (SEC) has reiterated its commitment to enhancing the capital market to support the federal government’s target of achieving a $1 trillion economy. President Bola Tinubu set this ambitious economic goal at the 29th edition of the Nigeria Economic Summit in Abuja. The Director-General of SEC, Lamido Yuguda, affirmed that the target is attainable with proper harnessing of the capital market.

Yuguda disclosed during a press briefing after the third-quarter Capital Market Committee (CMC) meeting in Lagos that SEC has established a group within the capital market to assist in reaching the economic target. The commission aims to refocus its efforts on supporting the federal government in utilizing the capital market to address infrastructure deficits, fostering economic growth and development.

Emphasizing the importance of addressing infrastructure challenges, Yuguda noted that it would create a conducive environment for businesses and enhance the production capacity of Nigerians. In 2024, SEC plans to undertake extensive investor education to inform and enlighten investors about the potential and technical aspects of the capital market. Yuguda believes that a literate market will result in investors who understand the risks involved and are more satisfied with their investment decisions.

Tinubu Expresses Concern Over Health Worker Exodus, Vows Reversal

President Bola Tinubu has expressed deep concern over the alarming rate of health workers leaving the country, describing it as “worrisome.” Tinubu pledged to take decisive measures within his capacity to reverse this trend, which he attributed to previous administrations.

The President conveyed his sentiments through his Special Adviser on Public Health Matters, Salma Anas, during the 2023 annual conference of the Association of Medical Laboratory Scientists in Abuja on Monday. The conference focused on the theme “Universal health coverage: The medical laboratories priority in Nigeria.”

Anas emphasized President Tinubu’s commitment to enhancing Nigeria’s health sector and addressing the “japa syndrome,” a term used to describe the exodus of skilled workers from the country.

“Part of our commitment is that we want to reverse that ugly trend and ensure that we sustain and retain our medical experts within the country through several interventions and measures,” stated Anas.