Kyari Bukar: The vital role of capital markets in Nigeria’s economic growth

Capital markets has continued to offer continuous availability of funds to finance companies, by linking companies, savers, and investors, facilitating transaction settlement, promoting saving habits, and channelling part of the savings into new and attractive investment opportunities.

Such process contributes to the financing of the economy while improving the effectiveness of capital allocation, supporting innovation, and facilitating entrepreneurship.

From providing the possibility to invest in securities with different risk profiles, appealing to different investors’ preferences, capital markets facilitate the movement of capital and liquidity, given the possibility to invest and divest through the purchase and/or sale of the securities in the market. Entrepreneurs may find in capital markets an alternative to reduce their risk, as they can transform parts of their business assets into liquidity.

Kyari Bukar, the MD/CEO of Inlaks Limited’s Africa Operations, took the stage as the keynote speaker at the 39th Omolayole Management Lecture Series, held recently the Nigerian Institute of Management (NIM) where she focused on the theme for ‘Interplay between capital markets and economic growth, delving into their dynamic relationship.’

In her keynote address, Bukar emphasised the pivotal role that capital markets play in nurturing economic development. She stressed that these markets offer businesses essential access to long-term capital, crucial for expansion and investment, subsequently creating job opportunities and fostering wealth generation.

Bukar also addressed the challenges confronting the Nigerian capital market, ranging from investor confidence issues to regulatory limitations, low liquidity, infrastructure deficiencies, market volatility, and more. To spark new opportunities, she presented policy recommendations, including bolstering market capitalization, promoting financial literacy, and enhancing the regulatory environment.

During the welcome address, the host of the 39th edition, Christiana V.N. Atako, President and Chairman of the Council of the Nigerian Institute of Management Chartered (NIM), reiterated the significance of capital markets in Nigeria’s economic prosperity. She highlighted the pillars of sustainable growth, including knowledge, investment, innovation, job creation, infrastructure development, and economic stability, which are integral to Nigeria’s progress.

Also, Taiwo Ganiyat Olusesi, MNIM, FCIS, the Institute’s Registrar and Chief Executive, shared her perspective on the theme’s relevance in our swiftly evolving age marked by technological advancements and changing geopolitical dynamics.

Furthermore, Co-host Olubunmi Abejirin, President of the AIESEC Alumni Nigeria, shed light on the role of well-regulated capital markets as the lifeblood of the economy, fostering innovation, commerce, infrastructure development, financial inclusion, and job creation. She noted the timely importance of a thriving capital market amidst economic challenges.

Abejirin also highlighted the profound connection between the lecture series and Dr. Omolayole’s vision of fostering excellence in management and business leadership. She commended Dr. Omolayole’s enduring commitment to nation-building and his significant contributions to indigenous leadership and management.

The Omolayole Management Lecture Series (OML) pays homage to the legacy of Michael Omolayole, a pioneering business leader and management icon. Omolayole’s achievements include being the first Nigerian Chairman/Managing Director of Lever Brothers Nigeria Plc. and the only African to serve on the Board of Advisors of AIESEC International in Brussels.

The 39th Omolayole Management Lecture Series brought together an array of influential figures, including captains of industries, top CEOs, management experts, government representatives, and financial institutions. The event was hosted by the Nigerian Institute of Management (NIM) in collaboration with the Lagos Chamber of Commerce and Industry (LCCI), Chartered Institute of Personnel Management (CIPM), Nigeria Employers’ Consultative Association (NECA), Omolayole and Associates, and AIESEC Alumni Nigeria (AAN).