Capital Market crucial to Nigeria’s Trillion-Dollar economy target, says VP Shettima

By Kunle Sanni

Vice President Kashim Shettima has emphasized the pivotal role the Nigerian capital market must play in the Tinubu administration’s goal of building a trillion-dollar economy.

Speaking on Tuesday during a courtesy visit by executive members of the Association of Capital Market Academics of Nigeria (ACMAN) at the Presidential Villa, Shettima stressed the importance of knowledge and expertise in driving economic growth.

“We are now in a knowledge-driven age; without the skill set, we cannot make much progress. The capital market has a very prominent role to play in pushing us to the one trillion-dollar economy,” Shettima stated.

He praised the intellect and experience of the association’s members, noting that their expertise will be critical to achieving the administration’s economic objectives.

The Vice President lauded the contributions of capital market experts and highlighted the need for strong leadership to guide the country towards economic transformation. “We have the skill set, the people, but what matters is the leadership that will push us to cross the Rubicon,” he said.

Shettima called on ACMAN to collaborate with the government in developing solutions to Nigeria’s economic challenges, emphasizing the country’s responsibility as a leader in Africa’s economic future. “Wherever Nigeria goes, that’s where Africa will go,” he added.

Earlier, ACMAN President Prof. Uche Uwaleke expressed the association’s support for President Bola Tinubu’s fiscal reforms, noting the growing collaboration between academia and industry. Uwaleke explained that ACMAN, composed of professors and senior academics specializing in financial market research, is working to bridge the gap between academic research and practical industry needs.

“The association welcomes captains of industry to strengthen the bond between the town and the gown,” Uwaleke said, underscoring the importance of academic input in national economic policies.

In recognition of Shettima’s contributions to economic policy, ACMAN conferred its highest membership status on the Vice President, naming him a Fellow of Capital Market Academics. The decision was made unanimously at the association’s last conference, acknowledging Shettima’s role as Chairman of the National Economic Council (NEC). Uwaleke further noted that the Vice President is expected to deliver an inaugural lecture as part of the fellowship honor.

Also present at the meeting were key members of ACMAN, including Prof. Seth Akutson of Kaduna State University, Dr. Hussaini Mohammed, Prof. Taibat Atoyebi, and Dr. Yekeen Abdul-Maliq from the University of Abuja.