A former governor of Anambra state, Peter Obi has urged the Nigerian government to shelve its plan to borrow funds from China to build an airport. Obi added that a project of that kind should be funded through the country's capital market.

While speaking at the second capital summit titled "The Road to Nigeria's economic recovery" in Lagos, Obi stressed that the government needed to set up regulations that will ensure publicly privatised businesses are listed on the Nigerian Stock Exchange, NSE. He further stated that the NSE was shallow because of "an absence of structure and needed regulations".

He also criticised the government's provision of intervention funds.

“Nigeria has been in contraction for five quarters, so we should work quickly to move away from this recession. There is nothing wrong with borrowing when there is a recession, but it must be done reasonably to attract investments and savings. So, borrowing is not bad except when the money is not used judiciously. There were no savings yesterday, that is why we are where we are today. The value of our capital market is just too low, about $30billion and that cannot attract foreign investors. We cannot compare ourselves now to Mexico, Taiwan, Turkey, Indonesia, Singapore etc. whose economies were similar to ours in the 1990s.”

He continued;

“There is a strong correlation between the development of an economy and its capital market. Apart from other roles, capital market primarily helps to mobilise funds from the surplus economic units and channels them to the deficit ones".
http://politicsngr.com/2017/05/26/fg-not-borrow-build-airport-peter-obi/
cc : lalasticlala

Shut up there someone who could not run one State properly.

I have nothing meaningful to contribute

Keneking:
Shut up

Ur mawt

buhari wan chop the future of his generations yet unborn

Let dem kip borrowing from China to fund d country.. One day we'll wake up to discover we have borrowed a Chinese president and now part of d Chinese republic.. My name is som tin Wong in advance...

This fake man with only one wristwatch has come again. But you looted Anambra state to build Abuja shopping mall. Looting and borrowing, which is better? Foolish man.

[quote author=Keneking post=56885919]Shut up there someone who could not run one State properly. [/quote mumu!]

thy get wise after them live office them want some one to do d work fhem work

I stand to be corrected ..as far as the loans are build operate and transfer ...like the railway systems I don't have a single problem with it

FG should just select 10 people in government , strip them of stolen funds and viola funds are ready.

But sha enough capital de this country wet in Una wan build wey banks and their executives no fit fund. Capital market investors too plenty.

This idea would be nice. Assets should be put on public exchange so anybody can invest wealth market. This gives these companies more liquidity as well. I know a few assets I would put my money in.

The value of our capital market is just too low, about $30billion and that cannot attract foreign investors. We cannot compare ourselves now to Mexico, Taiwan, Turkey, Indonesia, Singapore etc. whose economies were similar to ours in the 1990s.”

The country not attractive because other markets are better not because it's low. The point is to by low sell high.

He further stated that the NSE was shallow because of "an absence of structure and needed regulations".

He should eloborate on this.