Gov. Obaseki to raise capital from NSE to finance states’ projects

Governor Godwin Obaseki of Edo State has announced that his government would raise capital at the Nigerian Stock Exchange (NSE) to finance projects in the state. He said his administration would take advantage of the financial opportunities presented by the bourse.

Obaseki, who made this known during his visit to the NSE, told stockbrokers and the investing community that the fund raised from the NSE would contribute to the growth of Edo State’s economy. He, however, didn’t disclose when the capital would be raised.

But he assured that his administration would solicit the stock markets support to raise one or two instruments.

“I know that we have not come to the market yet but we will come at the appropriate time to interact or hopefully raise one or two instruments from the market.” 

His visit to the NSE was spurred by the 20th edition of the National Sports Festival which Edo State is hosting this year. Obaseki asked for the support of the brokers, corporate Nigerians and the capital market to ensure the festival was a success.

Obaseki said his request was spurred by the history of NSE relating to the National Sports Festival, which he said began over 20 years ago, citing the late Chief MKO Abiola who chaired the fundraising event for 1984 when he was President of the NSE at that time.

“For now we are focusing on sports and young people in Nigeria,” he said.

He added that“The market has always had a tradition of supporting sports as about 25 years ago, the President of the NSE at that time, the late Chief MKO Abiola chaired the fundraising event for 1984, and so today, we are here to solicit the support of brokers, clients and corporate Nigerians to participate and support the National Sports Festival, which we are hosting on the 22nd of this month.” Obaseki was honoured with a Closing Gong ceremony.

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