The MD/CEO Morgan Capital Securities Limited, Ayoleke Adu, has said that the Security and Exchange Commission’s (SEC) plan to raise funds for infrastructure via the capital market is a “good place to start”. However, he emphasised the need for strategy to implement these plans.
“I think the major problem is attracting funding” and “making ourselves as a country to be very attractive as an investment destination,” he said during an interview on Business Morning.
Projects such as those which the Federal Government would embark on would require “a lot of analysis and risk assessment.”
Hence, the country needs to work on these key things which Mr Adu highlighted as
- Strong institutions and laws
- Sovereign rating (This he said determines the level of investment the country will attract. He added that “the other thing we need to work on very fast is our sovereign rating” which by Standard & Poor’s (S&P) is BB+ which is below investment grade.
- Need for FG guarantees on infrastructural projects
