Stock brokers reflect on agriculture and economic development

By Chinwendu Obienyi

In As part of its attempt to strengthen the link between the agricultural sector and the capital market, the Chartered Institute of Stockbrokers (CIS) has unveiled plans to hold its 26th Annual Stockbrokers Conference.

This year’s conference themed: “Capital Market and Agricultural Development in Nigeria: Challenges and Way Forward”, will be held in Benin City from Wednesday, September 7, 2022 to Friday, September 9, 2022. The conference will be declared open by the Executive Governor of Edo State, who is also a licensed stockbroker.

In a statement, the Institute said the conference theme was carefully chosen to provide a platform for experts to advise the federal government on how it can leverage the commodity market to push the the country’s gross domestic product (GDP) in double digits, ensuring food security, guaranteeing employment, eliminating banditry and terrorism.

“The Food and Agriculture Organization of the United Nations (FAO) says that agriculture is the foundation of the Nigerian economy, employing around 35% of the country’s population. The sector also contributes around a quarter of the country’s Gross Domestic Product (GDP) despite the presence of crude oil. Therefore, agriculture is a priority sector for the Nigerian capital market. Two companies in the agricultural sector, Okomu Oil Palm plc and Presco Plc, ranked among the biggest price risers on the NGX in recent times.

It is on this basis that the 2022 Annual Securities Dealers Conference shines its spotlight on agriculture, explores the link between the sector and the capital market as drivers of jobs and economic growth, and offers effective strategies to put Nigeria back on the path to double-digit growth. of gross domestic product (GDP) through agricultural development,” he said.

The high-profile event, which would attract senior government officials, regulators and capital market operators and captains of industry, would seek to address commodity trading and agricultural development in Nigeria, the cost of importing food with the negative effect on foreign exchange earnings, leveraging technology to drive capital market innovation and growth, advancing financial inclusion and capital market literacy in Nigeria, among others.

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