Nigeria stock exchange is shallow - Minister
Nigeria’s Finance Minister, Zainab Ahmed says Nigeria’s money and capital markets remain shallow and as such cannot spearhead economic growth and stability.
Galaxy’s Godfrey Eshiemoghie reports that Mrs Ahmed stated this Thursday in Abuja during the 2020 budget defence session convened by the Senate Committee on Finance.
Responding to Senator Kasim Shettima’s question on why the capital market lacks the depth of lifting the economy out of stagnation, the minister lamented that Nigeria is vulnerable due to large investment by foreign investors who remain the dominant force in the capital market.
Meanwhile, the Ministry of Finance, Budget and National Planning have proposed a total of N3.8 billion for its 2020 operations.