Capital Market records 38.8% growth in 2013

November 27, 2013 3:51 PM

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Capital Market records 38.8% growth in 2013

The Director-General, Security Exchange Commission (SEC), Ms Arunma Oteh, on Wednesday announced that Nigeria’s capital market grew by 38.8 per cent in 2013.

The growth, with about 40 days to the end of 2013, according to Oteh, places the Nigerian capital market among best top 10 markets globally.

Oteh said this at a Capital Market Outreach programme with the theme “Capital Market Wealth and Health’’, held in collaboration with Pro-Health International, a non-governmental organisation (NGO), in Abuja.

She said the outreach would expose traders to the long term savings and investment opportunities inherent in the capital market.

“Our capital market has become one of the top performing in the world and also among the top 10. It has grown by 38.8 per cent, this year.

“However, I believe that we can still do more, and that is the reason why we are here in Kuje Market today.

“It is for this reason that SEC along with Capital Market operators decided that we will come out on the street and preach that every Nigerian must learn how to save and invest.

“The market is the centre where we all go to everyday. So, it is great that we are partnering for the purpose of growing our capital market.

“Whether you earn one naira, one million, or 10 million, you must learn how to save and invest.

“If you do so, you will have a better future and contribute in building our economy stronger,’’ Ote said.

Oteh said that as people save, it was important that they look after their health so that they could live long and enjoy the dividends of their labour.

“As we preach that people manage their money properly, that they save and invest for their future, it is also important that they stay healthy to enjoy the money they have saved.

According to her, this is why we have collaborated with Pro-Health International, formed by a group of Medical Doctors, to give free medical treatment here today.

The Managing Director, Chapel Hill Denham Management, Mrs Uju Irukwu, said saving either by individual or through collective schemes remained a key economic development driver.

Irukwu said it was only through saving that small time entrepreneurs could grow their businesses.

“If you don’t have savings, you won’t be able to take advantage of investment opportunities when it presents its self.

“Such opportunities could be land, housing mortgage and loans from bank to expand your business, among others.

“The trick to saving is to put yourself on a salary and save whatever you pay yourself either weekly or monthly. No matter how little, try and save.

“Also, If you discipline yourself to save, you are also teaching yourself to resist temptation of unnecessary buying of ‘asheobi’ and the rest,’’ Irukwu said.

Source: businessdayonline.com

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