Head of Research at FMDQ Group Plc, Dr. Vincent Nwani has emphasized the need for concerted efforts towards attracting some of the $30trillion sustainability fund available globally into the Nigerian capital market.
He was Speaking at the Capital Market Correspondents Association of Nigeria 2023 workshop themed ‘Leveraging Capital Market in Financing the National Development Plan,’.
While acknowledging the initiatives by exchanges such as NGX and FMDQ to list sustainability-focused instruments, Nwani underscored the necessity for broader involvement. He pointed out that around $30 trillion in sustainability funds is seeking investment opportunities, and Nigeria should position itself to attract these funds effectively.
Nwani also highlighted positive developments in the adoption of green bonds, including initiatives by corporations, state governments, and Lagos State’s imminent entry into the green bond market. He emphasized ongoing efforts to promote awareness and provide training for investors and issuers, particularly in collaboration with organizations like FSD Africa.
Regarding the ability of the Nigerian capital market to support the National Development Plan, Nwani expressed reservations. He called for increased scalability, global competitiveness, and improvements in market access, liquidity, operational efficiency, and cost-effectiveness. Addressing housing as a crucial aspect of national development, he urged stakeholders to focus on bridging the housing deficit and emphasized the significance of mass housing initiatives.
In a challenge to market players, Nwani urged a shift away from smaller investments, advocating for bold and substantial moves to effectively contribute to financing the National Development Plan.
