New Telegraph

FG urged to raise bonds for revenue generating projects

The Federal Government has been urged to focus on raising bonds from the capital market as a means to financing revenue generating projects while working to reduce balance sheet borrowing. These among others were part of the resolutions reached at the Securities and Exchange Commission’s yearly budget seminar with the theme “Financing Nigeria’s Budget and Infrastructure Deficits through the Capital Market” held virtually on Thursday. Participants at the seminar agreed that the government remained an enabler to creating the conducive environment for policies, security and good leadership that will ultimately support business growth and development.

They, therefore, urged the Federal Government to prioritise funding of sectors such as security, education and health while creating an enabling environment for the private sector to fund sectors such as power, transportation and telecoms. They also agreed on the need to develop an investment framework including an enabling legal and regulatory environment, which represents contracts and compensates investors when necessary. This they posited is to ensure that there is a viable and attractive investment environment to attract and retain investors.

“There is need for strategic collaboration between the public and private sectors for flexible, accessibility of funds through the capital market to finance infrastructure “The development of infrastructure in Nigeria has primarily been through the traditional forms of contract awards by the government, through budgetary allocation. Private sector involvement is key and the Federal Government has identified the power and transport sectors as key for overall development, hence prime candidates for public, private partnership.

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