The Honourable Minister of Budget and Economic Planning Senator Abubakar Atiku Bagudu CON, has called for massive investments in the capital market   and capital market experts in the private sector to support revenue mobilization for  2025 budget implementation in Nigeria.

The Minister made this statement on Friday during an investiture ceremony of Fellow of  the   Capital   Market   Academics  of   Nigeria  FCMAN  on him by the  Association   of Capital   Market   Academics   of   Nigeria   (ACMAN)   led   by   its   President,   Prof.   Uche Uwaleke.

Bagudu noted that investments to the tune of $100bn should come from the capital market   and   the   private   sector   to   build   the   Nigerian   economy.   Sen.   Bagudu appreciated the efforts of capital market experts, emphasizing the significance of their contributions to ongoing interventions to transform the nation’s economy but however decried that the capital market in the country right now was inadequate to sustain the economy.

The Minister explained that the Ministry’s mandate of coordinating the process for the preparation,   implementation   and   monitoring   of   the   national   economic  plans,   was being carried out with the assistance of its agencies; the Nigerian Institute for Social and Economic Research (NISER), the Center for Management Development (CMD) and the   National   Bureau   of   Statistics   (NBS).   According   to   him,   “We   need   capital, mobilization  and   orientation   of   citizens, as   what   tax   revenue   can’t  fund,   capital market can fund”. He emphasized that the National Development Plan and the Nigeria Agenda 2050 as the target for our development trajectory.

Bagudu   thanked   the   association   for   the   conferment   of   the  FCMAN  on   him   while promising to collaborate more with the academia and the association.

Earlier,   the   President   of   ACMAN   Prof.   Uwaleke   explained   that   the   association, comprising   professors   and   senior   academicians   from   Nigerian   universities   with specialization in financial market research, banking and business administration had taken  steps to   strengthen  the  bond  between academia  and  industry. “Today,  the association welcomes captains of industry to strengthen the bond between the town and the gown,” Uwaleke said.

“We look forward to your inaugural lecture, which is a very important condition for the award to you Sir,” he added.

Prof. Uwaleke was accompanied to the investiture ceremony by executive members of the association; Prof Seth Akutson of Kaduna State University, Dr Hussaini Mohammed of the University of Abuja, Barr. George Ibekwe of the Nigerian Law School, Prof. Taibat Atoyebi of the University of Abuja Business School and Prof. Dele Olaolu of Baze University Abuja. The Directors in the Ministry were on ground to support the Minister at the investiture ceremony.

 

Osagie Jacobs J.I (Mrs.)
Director Infor & P.R
7 March, 2025