FG to introduce incentives to boost capital market investment — Finance Minister

Dr Zainab Ahmed, Minister of Finance, Budget and National Planning, says the Federal Government will further introduce incentives to boost investments in the nation’s capital market. Ahmed gave the assurance during a visit to the. Nigerian Stock Exchange (NSE) in Lagos on The minister said the ministry would work closely
with the exchange to put policies in place that would boost investment and enhance the growth of the market. She noted that government had in the past, worked with the NSE in various forms to ensure market growth and development. Ahmed stated that some tax provisions made in the Finance Act of 2019 would assist in deepening the market in areas of Real Estate Investment Schemes (REITS) and securities lending. “Given the need to accelerate reforms to attract the
capital available for real estate development across the continent, we have worked very closely with the SEC, industry groups and the Capital Markets
Master Plan Implementation Council for several years, to reform our tax laws. “We have asked the NSE to continue to work with us so that we can encourage Nigerians to invest more in the Nigerian capital market. “We have a lot of resources locally and we are
working with the NSE to ensure we mobilise resources through the market. “Any policy that government needs to put in place to enable the growth of the market, we will do that,”
Ahmed said. She assured the capital market community that the next Finance Act would make provisions for
incentives that would make the market more attractive to investors. Ahmed said the Finance Act of 2019 had taken care of some incentives, adding that, every appropriation bill going forward must come with finance bill on yearly basis.

 

SOURCE

Zainab-Ahmed.jpg