UK govt pledges support for Nigeria’s capital market devt
Omeiza Bilal
The UK Government has pledge to support Nigeria to develop its capital markets, through Mobilising Institutional Capital Through Listed Product Structures, (MOBILIST) programme for sustainable development.
British Deputy High Commissioner Jonny Baxter, made this disclosure Wednesday in in Lagos.
Baxter said the UK government is committed to supporting Nigeria in the continued development of its capital market to help deliver the country’s economic goals, including its ambitious transition to clean energy solutions.
British Deputy High Commissioner added that a liquid and well-regulated capital market benefits the entire economy by enabling companies to raise capital to fund their expansion, which in turn helps deliver crucial development, job opportunities and improved incomes.
He said, “MOBILIST’s focus on stimulating the creation of innovative listed products can make a unique and impactful contribution to achieving these objectives.”
MOBILIST Programme Lead at the FCDO, Ross Ferguson said, “MOBILIST is the expression of the UK’s conviction that public markets have a underutilised but potentially critical role in financing sustainable development at scale by mobilising private capital to flow where it is needed most, to the firms that are going to contribute most to solving developmental challenges and help deliver a fair and orderly climate transition for Nigeria.
“We are committed to deepening our relationships in the Nigerian market as we seek to help position Nigeria’s capital markets at the forefront of these efforts.”
In his remarks. The Ag CEO of NGX, Jude Chiemeka, stressed the partnership with MOBILIST will advance market efficiency, sustainability reporting, and integrate Environmental, Social, and Governance (ESG) principles.
“It also represents a significant milestone in our ongoing efforts to enhance the performance and deepening of Nigeria’s capital market by promoting sustainable capital flows and enhancing listing diversity,” Chiemeke said.
