The Association of Issuing Houses of Nigeria has said that Nigeria needs capital investment of N35tn per annum to reverse negative trends in unemployment, poverty and see real growth.
This was part of the recommendation released a in a communiqué after the association’s first business lunch meeting in Lagos.
The President, AIHN, Mr Chuka Eseka, stated in the communique that, “Nigeria is a N140tn economy. To reverse the negative trends in unemployment and poverty and see real growth, we shall need capital investment of N35tn per annum consistently over the next 10 years and the capital market if properly incentivised can facilitate this.
To deliver economic growth, the association said revenue generation must be a priority for government.
“We must stimulate productive activities within the economy that will generate revenue,” it added.
AIHN said that the private sector efficiency was critical in harnessing the potential infrastructure development.
It added that increased efforts must be made to galvanise foreign direct investment as well as domestic investment.
“For the power sector to thrive, government must create an enabling environment and address existing governance, legal, regulatory, funding and pricing issues,” it stated.
It also stated that it was time for the capital market to invest intellectual capital and develop solutions for funding key national priority sectors such as power, transportation and telecommunications to achieve the transformational and catalytic economic benefits.