SEC, NIPC to Intensify Activities on Commodity Exchanges
The Securities and Exchange Commission (SEC) and the Nigerian Investment Promotion Commission (NIPC) have announced plans to increase activities on commodity exchanges.
SEC said in a statement that the partnership with the NIPC was aimed at attracting more investors to the capital market by revitalising the commodities exchange market, among other initiatives.
The acting Director-General, SEC, Mary Uduk, 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 economy.
Uduk said, “There are opportunities in the commodities market and we need to scale up participation in that regard to attract investors. We will require the collaboration of the NIPC in that regard to attract direct investors.
“Various opportunities abound in the capital market for both individuals and government and that is why we are exploring avenues to attract states to come to the market and raise funds for infrastructural projects.
“We are happy to partner organisations and agencies to make the market and the country richer and better.”
The Executive Secretary, NIPC, Yewande Sadiku, 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 revitalise moribund investments.
Sadiku said, “There are many investment opportunities in the states and what we have done now is to design a platform for profiling such investment opportunities. A part of the strategy is to enlighten the state officials as it is important that the states are ready for the investors.”
She noted that the mandate of the NIPC was to encourage investors to come, saying that was why incentives were being put in place to make it easier for them to come.
Sadiku added “The work that we do is connected to the work of SEC; we encourage investors to come, while SEC is here to protect the investors and that is why we need to collaborate. We are happy to work with SEC to further grow our economy.”