Mr. Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC), has implored the private sector to take the lead in sourcing long-term financing from the capital market to address pressing infrastructure deficit in the West Africa sub-region.
Speaking at a pre-event press briefing for the upcoming West Africa Capital Market Conference, scheduled for October 25-26 in Lagos under the theme ‘Infrastructural deficit and sustainable financing in an integrated West Africa Capital Market,’ Yuguda emphasized the critical role infrastructure plays in raising living standards.
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According to him, the responsibility for infrastructure provision has been increasingly shifting from governments to the private sector in many countries. He highlighted the necessity of tackling the infrastructure deficit and embracing sustainable finance principles for economic development.
The conference, jointly organized by the West Africa Securities Regulators Association, in collaboration with various regional bodies, aims to address these critical issues.
Yuguda stressed that the infrastructure deficit poses a significant challenge to sustainable development in the region and called for financing mechanisms to mobilize funds to meet critical infrastructure needs.
With Nigeria’s population exceeding 200 million, he emphasized the urgent need for adequate infrastructure to prevent brain drain and promote economic development.
“This Conference will bring together experts, regulators, policymakers, and industry leaders to share insights and strategies to address the region’s massive infrastructure deficit,” Yuguda declared, setting the stage for a vital discussion on the region’s path toward sustainable development.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
