Capital market experts have rated the country’s democratic regime as one that has failed to create a competitive edge for the domestic investment market. “The capital market is a financing mechanism in aid of production of goods and services. Multiple taxes levied on the production economy and the capital market has been a disincentive to capital formation in the economy,” he said. xAccording to him, the flagship securities exchange, the Nigerian Stock Exchange, is small compared to major international exchanges, considering its capitalization which is about N20 trillion. Anono stated that due to a deficiency of engineering infrastructure, the Nigerian economy lacks the technological base to sustain the productive momentum of industries.

Source: The Guardian June 04, 2021 04:26 UTC