By Oyindamola Alamu
The Securities and Exchange Commission (SEC) and the Nigerian Investment Promotion Commission (NIPC) have unveiled plans to increase activities on commodity exchanges.
SEC said that the partnership with the NIPC was designed to attract more investors to the capital market by reviving the commodities exchange market, among other initiatives.
Mary Uduk, acting director-deneral of SEC, said the partnership was in line with the commitment to partner relevant government agencies and the private sector to attract more investments to the country in a bid to further boost the economic opportunities therein.
She further explained that, there were opportunities in the commodities market and there is a need to scale up participation in that regard to attract investors. She said collaboration with the NIPC in that regard to attract direct investors was required.
“There are also different chances that abound in the capital market for both individuals and government, such as states to explore avenues to discover market and raise funds for infrastructural projects” she
Yewande Sadiku, executive secretary, NIPC, said the NIPC was committed to ensuring that the nation had the required business climate to attract both foreign investors and Nigerians in the Diaspora.
She said the NIPC was visiting different states to explore investment opportunities and looking at some investments that were started by states but had become moribund.
She added that the NIPC would find ways to renew moribund investment.