By PETER EGWUATU

THE Chartered Institute of Stockbrokers (CIS) has expressed its determination to assist the federal government in tracking budget performance that will boost its transformation programme and enhance the general wellbeing of the people.

The institute has also resolved to influence government policies by generating ideas that will contribute immensely to the transformation of not only the capital market, but the national economy as a whole.

Speaking to newsmen, yesterday, in Lagos, President, CIS, Mr. Ariyo Olushekun, said the institute has resolved to engage key players in both the public and private sector of the economy to brainstorm and generate ideas which will serve as useful input to national budget and enhance the quality of the policy making process. He disclosed that the institute will hold its first national workshop on September 13th, 2012 at the Transcorp Hilton Hotel, Abuja with the theme, “Working the transformation Agenda: The Real Issues”.

According to him,” The workshop will focus on Agriculture, Telecommunication and Power sectors of the economy. It goes without saying that these critical sectors hold strategic importance to the realization of the vast potentials of the Nigerian economy, and reinvigoration of the capital market.”

While giving insight of the forthcoming workshop, Mr. Albert Okumagba, Group CEO, BGL Plc and Chairman of the Workshop Committee, said.The performance of the capital market is an impetus for economic growth and development.  The capital market has the potentials to induce growth but has not contributed significantly to economic growth of Nigeria due to low market capitalization, small market size, few listed companies, low volume of transactions, illiquidity among others.”

Transformation agenda

According to him, “The workshop is expected to host the movers and shakers of the Nigerian economy from both the public and private sectors. Speakers at the event will include the Vice President of the Federal Republic of Nigeria, Mr. Nnamadi Sambo who will make the keynote address on the workshop theme: Working the Transformation Agenda –The Real Issues.  The Honourable Minister for Finance,   Dr (Mrs) Ngozi Okonjo-Iweala is expected to participate in the event along with key members of the Economic Management Team.

He emphasized that the role of capital in the production process and economic performance of a nation has long been recognized, noting that capital provides the impetus for the effective and efficient combination of factors of production to ensure sustainable economic growth.

According to him, the effective utilization of productive resources accumulated over time would determine the pace of growth of an economy. Growth in productive activities and its distribution determines the social wellbeing of the population.

Commenting on the forthcoming national workshop, Okumagba, said,  The focus at the workshop will be on the Agriculture, Telecommunications and Power sectors of the economy and therefore we have invited the Honourable Minister for Agriculture, Mr Akinwunmi Adeshina, to make a presentation on Agriculture as a business – The Funding, Instruments and Policies whilst the Honourable Minister for Communications Technology, Mrs. Mobola Johnson would make a presentation on Telecoms as a catalyst for democratizing wealth creation.”

The Director General of The Bureau of Public Enterprises, Ms. Bola Onogoruwa has also been invited to speak on Power specifically to give us an insight into the roadmap and status of the plans for delivering power.”