Awaking a Sleeping Giant: Harnessing the Nigerian Capital Market
Nigeria, often called the "Giant of Africa," boasts a wealth of resources, a burgeoning youth population, and a vibrant culture. However, years of economic mismanagement has meant it has failed to fully achieve its potential. With a massive infrastructure deficit (approximately $3trn), underperforming real sector, seemingly insurmountable debt profile and strained fiscal position, the government alone cannot solve the array of economic issues plaguing the sleeping giant. However, according to a report by global consulting firm McKinsey & co. , Nigeria has the potential to be amongst the top 20 global economies with a size of over $1.6trn by the year 2030. One of the ways to achieve this is by Nigeria looking to its capital market - a powerful tool that can be utilized to propel the nation towards economic prosperity. This article will explore the economic importance of harnessing the capital market in Nigeria. It will delve into what the capital market is, its role in e...