Edo State Look To Capital Market For Developmental Funds
Governor, Godwin Obaseki of Edo state has said that the state would soon approach the Nigeran Stock Exchange tp raise developmental funds.
The disclosure was made Monday on the floor of the Nigerian Stock Exchange (NSE) while on a visit to the bourse, during which he solicited the market’s support in the fort coming National Sports Festival hosted by the state.
Shortly after ringing the market’s closing bell, Obaseki in his address to the community of stockbrokers, assured that the state will approach the market in due course to raise funds.
The Edo state governor, who led a team of his executive officers, sponsors of the 2020 National sports festival and Edo state investors, likened his appeal for support, to what was exhibited by the then Doyen of African sports, Moshood Kashimawo Abiola, who then as the president of the council of the Exchange, deployed the capital market to raise funds for African Nations cup.
The governor’s entourage includes. Rt. Hon Comrade Philip Shaibu, Deputy Governor, Edo State; Taiwo Akerele, Chief of Staff, Edo State; Asue Ighodalo, Chairman, Sterling Bank plc, one of the sponsors of the National sports festival, amongst others including, from Nigerian Breweries, Dangote Plc.
He hinged his appeal for support, to what the then doyen of African football, Chief M.K.O Abiola did, as the president in the council of the NSE, used the market to generate funds in support of African Nation’s cup.
The governor, a renowned stockbroker said “’ I missed the market, we will come again, come to raise one or few instruments” the governor stated, even as he did not disclose the amount the state government is likely to raise form the market.
Obaseki was given a heroic welcome Jolly Good fellow song by the capital market community
Rasheed Yusuf, Doyen of the stockbrokers and former Chairman ASION who took over from Obaseki, lauded the governor’s approach to the market and pledged the support of the capital market community for the National sports festival to be hosted by Edo state.
He said “’ you are one of us and you remain one of us. You were the founder Chairman of ASHON, you handed over to me as chairman and left for greener pastures. You were also the CEO of your own outfit, you know the job. We did it that time for Chief MKO Abiola, there is no reason we won’t do it again”
He added “’ when you were here, you campaigned for government to use the capital market, now that you are on the other side, my colleagues asked me to remind you that the Nigerian capital market, is still the Nigerian capital market that reflects the overall state of the economy, Edo state should use the market for its developmental initiatives”
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