Nigerian govt vows to boost competitiveness in capital market

ABUJA - The Nigerian government would ensure a coordinated and integrated approach to the country's financial sector and create an enabling environment to promote competitiveness in the capital market, a minister said Thursday.

The overall plan is to ensure the development of a robust and strong economy, especially from the perspective of the financial services sector, said Nigerian Minister of Industry, Trade and Investment Niyi Adebayo at an annual conference of the Chartered Institute of Stockbrokers in the southwestern state of Lagos.

"The best way to improve competitiveness is through a mixture of policies designed to help, improve capital market competitiveness and long-term investment," Adebayo said.

The minister said the measures are expected to improve both price and non-price competitiveness.

Most of the well-developed financial systems across the world have a strong positive impact on economic growth over a long period, Adebayo said, adding that the micro-environment needs to be stabilized to create the right environment for investment, which the Nigerian government would always support.