LAGOS – The Minister of Finance, Mrs Zainab Shamsuna Ahmed, has said that strong capital market activities were instrumental in taking Nigeria out of recession and back to the path of positive growth even as she said an inclusive growth is key in tackling development challenges.

This was contained in a statement signed by the Special Adviser to the Minister on Media and Communications, Mr Paul Ella Abechi.

It said she made the remark at the 22nd African Securities Exchanges Association’s (ASEA) Annual General Meeting and Conference in Lagos.

Ahmed, who was represented by the Acting Director-General, Security and Exchange Commission (SEC), Ms Mary Uduk, in her address told participating African countries that it was President Muhammadu Buhari’s decision to pump in money into various sectors of the economy in order to spur economic growth and sustain the tempo to where it is now.

She said the Federal Government’s deliberate effort made support to the private sector a critical pillar in its policies, by ensuring macroeconomic stability and diversifying the economy from a focus on oil to other sectors. It also provided an enabling environment for the financial sector as a major catalyst in the implementation of the Economic Recovery and Growth Plan (ERGP).

She said: “The African Securities Exchanges Association as a premier association of leading exchanges in Africa has the primary goal to develop member exchanges, provide an enabling platform for sharing best practices, and articulate actionable strategies to strengthen and develop capital markets on the African Continent.”

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