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Stakeholders unveil strategies to deepen Nigeria’s debt market

Critical steps required to deepen Nigeria’s debt market was the focus of discourse in Lagos as the Annual Bonds, Loans and Sukuk Nigeria Conference was held in the Nigerian commercial capital at the Eko Convention Centre.

The conference, with Stanbic IBTC as a gold sponsor, brought together over 300 participants comprising government officials, corporates, Banks, fund managers, investors, and advisors. It is the premier event connecting fundraisers with lenders and investors active within the Nigerian capital market space.

The event featured over 30 key industry speakers who shared views on local asset management, developments in the pensions and alternative asset management space, and issues affecting institutional investors; as well as providing insights on the capital market strategies of leading sovereign, corporate and project companies.

The conference also facilitated networking meetings with the region’s most active issuers, offering a sneak peek into proposed new innovative financing structures.

Chairman of the event and Chief Executive, Stanbic IBTC Bank PLC, Demola Sogunle, in his welcome address, said the conference is growing in stature as a major platform to glean useful information on capital market developments, especially at a time that access to capital has become imperative for Nigeria in the wake of global market volatility.

“The bond market plays a central role in the deepening of financial markets not only for the diversity of products it offers the market but essentially its role in improving the diversification of funding sources and increasing access to credit markets.

It is, therefore, the right time to ensure that proper structures are in place to ensure the development of a deep and expansive bonds, loans and derivatives market in Nigeria”, Sogunle stated.

He said by throwing its weight behind the event, Stanbic IBTC hopes to trigger the inflow of foreign direct investment into Nigeria by highlighting the country’s huge potential and growth opportunities. This, he said, is in line with the group’s tradition of facilitating must-attend forums where critical insights on the Nigerian economy and the opportunities therein are provided.

Headline speakers at the event included Director-General, Debt Management Office, Patience Oniha; Senior Resident Representative in Nigeria, International Monetary Fund(IMF), Amine Mati;

Acting Director-General, Securities and Exchange Commission of Nigeria, Mary Uduk; General Manager/Corporate Treasurer, MTN Nigeria, Ishmael Nwokocha; and Managing Director and Chief Executive Officer, Sigma Pensions Ltd., Dave Uduanu.

Oniha, who spoke on the topic “Understanding Islamic Finance: what are the requirements, processes and benefits of tapping into this market”, enumerated the impact of Islamic finance in the growth trajectory of many countries across the world.

While making a case to harness this very important source of funding, she also highlighted government’s key funding requirements and where the funds will come from and the role of government in delivering infrastructure projects.

The forum had panel discussions which featured in-depth analysis of case studies, as well as examining Africa’s use of debt products, and what is required to sustain the continent’s growth story.

A panel session on ”Bringing issuers and traders to the NGN bond markets: Boosting liquidity and trading volumes” featured as discussants; Mary Uduk, Vice President, Financial Markets Dealers Association, Adetoun Dosunmu; and Head of Global Markets, Stanbic IBTC, Sam Ocheho.

It was moderated by Konrad Reuss, Managing Director, South Africa and Sub-Saharan Africa, S&P Global Ratings.

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