By Peter Egwuatu

Capital market operators have identified some key areas that the incoming administration  should address to strengthen the market and reposition it for accelerated growth and development of the economy. 

This demand is coming following the conclusion of the 2023 Presidential Election in which Senator Bola Ahmed Tinubu, the Presidential candidate of All Progressives Congress (APC), has received the certificate of return   as the President elect, while the swearing-in ceremony   is scheduled for May 29. 

Similarly, the Chairman,   Association of Securities Dealing Houses of Nigeria (ASHON), Mr Sam Onukwue urged the incoming administration to abrogate the Capital Gains Tax (CGT) to attract high net worth investors into the market. He also advocated the need for the government to grant incentives to attract more listings into the secondary market.

Adeosun in a statement explained that  the incoming administration should pay close attention to the capital market in order to maximize its array of opportunities. He noted that both the capital and money market should receive balanced attention from the federal government  and  promote a unified exchange rate of the Naira to encourage participation of foreign investors in the market.

“The fundamentals of the market are getting stronger day by day as a result of so many reasons. The elections actually excite the market, because of the imminent positive changes we expect, irrespective of which of the top candidates win. It signals great expectation and trust.

We expect the new president and his government to hit the ground running before the inauguration by immediately opening engagement with the capital market community, as that will help in crafting an effective plan of action for the administration.

We expect a stable and unified exchange rate which will increase the level of foreign investors’ participation in our market. We also expect policy and positive pronouncements that will boost the confidence of stakeholders.

“First, is to properly situate the capital market