The Edo State Government has said it is planning to raise capital from the Nigerian Stock Exchange to enable it to finance projects in the state.
The Governor, Edo State, Godwin Obaseki, disclosed this on Monday during a visit to the NSE in Lagos.
Obaseki said the government would leverage on the capital market as a bastion of the economy to raise capital at the appropriate time.
“I know that we have not come to the market yet but we will come at the appropriate time to interact or hopefully raise one or two instruments from the market. For now we are focusing on sports and young people in Nigeria,” he said.
Obaseki explained that the state government was planning to host the 20th edition of the National Sports Festival this year and urged brokers, clients and corporate Nigerians to participate and support the festival.
“The market has always had a tradition of supporting sports as about 25 years ago, the President of the NSE at that time, the late Chief MKO Abiola chaired the fund raising event for 1984, and so today, we are here to solicit the support of brokers, clients and corporate Nigerians to participate and support the National Sports Festival, which we are hosting on the 22nd of this month,” he added.
The Chief Executive Officer, NSE, Oscar Onyema, commended the Obaseki-led administration for various initiatives established in the state.