The Securities and Exchange Commission (SEC) has emphasized the importance of infrastructure availability in improving the living standards of Nigerians. Mr. Lamido Yuguda, the Director-General of SEC, made this statement during a pre-event news conference for the upcoming West Africa Capital Market Conference (WACMAC) in Lagos. The conference, organized by the West Africa Capital Market Integration Council (WACMIC), is scheduled to take place on October 25 and 26.

Yuguda highlighted the significance of infrastructure such as power, telecommunications, roads, railways, schools, hospitals, shopping malls, and hotels in enhancing the quality of life for people. With the country's increasing population, there is a greater need for investment in infrastructure to meet the growing demands. Yuguda also mentioned that improved infrastructure development would help reduce emigration and brain drain, as people would have better opportunities within the country.

He called upon the private sector to rise to the challenge of sourcing long-term financing from the capital market to address the infrastructure deficit in the West African sub-region. In many countries, the responsibility of infrastructure provision has shifted from the government to the private sector due to increased demand and the government's limited ability to fund infrastructure projects alone. Infrastructure deficit refers to a situation where there is insufficient infrastructure relative to the needs of the population.

The conference aims to address the infrastructure deficit in the sub-region and promote sustainable finance principles for economic development. It will bring together experts, regulators, policymakers, and industry leaders to discuss and propose solutions to the infrastructure challenges in West Africa. The event will provide a platform for meaningful discussions, sharing of insights, and forging partnerships that will shape the future of capital markets in the region.

Over 300 stakeholders are expected to attend the conference, including representatives from the Securities and Exchange Commission of Nigeria, Securities and Exchange Commission of Ghana, Autorite de Marche's Financiers or AMF-UMOA, the Economic Community of West African States, and the West African Monetary Institute. The conference will focus on innovative financing mechanisms and sustainable financing options to mobilize funds for critical infrastructure needs, foster economic growth, and achieve the Sustainable Development Goals in the region.

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