FG to assist states raise funds from capital market - Nigeria Business News

The Federal Government on Monday said it would encourage state governments to raise long-term funds from the capital market to finance capital projects.

It said rather than the states looking at the banking sector to raise funds, the capital market would be assisted to play its role in economic development.

The Minister of Finance, Mrs. Kemi Adeosun, stated these at a meeting with stakeholders in the market, led by the Chairman, Capital Market Master Plan Council, Mr. Olutola Mobolurin. Adeosun said the assistance to be given to the state governments in raising funds from the capital market had been captured in the Fiscal Restructuring Plan, which was already approved by the National Economic Council.

She said, “There is a very aggressive plan to develop housing; the capital market is sitting at the root of financing the sector and we have to find a way to unlock it

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