FDIs

Nigeria will further introduce incentives to boost investments in the nation’s capital market, said Minister of Finance, Budget and National Planning Zainab Ahmed during a visit to the Nigerian Stock Exchange (NSE) in Lagos.

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.

Government had in the past, worked with the NSE in various forms to ensure market growth and development, she told her audience.

Ahmed added 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,” she said.

“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,” she added.

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 a yearly basis. Enditem

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