Edo State Urged to Access Capital Market To Fund Projects

The former Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Rasheed Yussuf, on Monday, urged the governor of Edo State, Mr Godwin Obaseki, to generate revenue from the capital market to finance the state's various developmental projects.

Yussuf disclosed this during the Nigerian Stock Exchange (NSE) when Obaseki paid a courtesy visit adding that the market operators were delighted to welcome a stockbroker, the governor.

Yusuf emphasized the capital attraction embedded in the capital market and how the funds generated can be used for the state's development, assuring the governor of the support from the capital market community,

Commenting on his induction as a stockbroker, Obaseki said he was at the Exchange to entreat for the support from the capital market community for the forthcoming National Sports Festival (NSF), to be hosted in Edo State from March 22 to April 1, 2020, adding that chief MKO Abiola was a stockbroker who chaired the Olympic game 25years ago.

He said: “Today, we are here to solicit the support of the capital market community in participating and supporting the NSF. The NSF is very important not only because it caters to the interests of young people but also it is an event put together in uniting the country.”

“Edo State is using this sports festival as one of its contributions in also enhancing unity in the country,” he said, adding that the state will come at an appropriate time to raise one or two instruments for development," Obaseki said.

In reaction, the Chief Executive Officer of NSE, Oscar Onyema said: “The governor has been doing quite a lot since he became governor including civil service reforms, Edo Production Centre, Edo Innovation hub, the new enterprise, and industrial hub, among others.

All these initiatives require funding, which the market can finance and as the governor has said, the state may be issuing one or two instruments in the future.”