n a bid to create sustainable synergy that would deepen both the
capital market and the ICT sector of the economy the federal government
has concluded arrangement to float about $15 million Venture Capital
from the nation's capital market.
The Minister of Communications Technology, Mrs. Omobola Johnson who
stated this yesterday in Warri, Delta State at the 2nd Annual Capital
Market Committee Retreat entitled, "The Pivotal Role of Capital Market
in the Transformation Agenda for the Nigerian Economy," said the venture
fund will support the growth and development of ICT sector in the
country.
She noted that the fund will be seeded to help young Nigerians who
have creative and innovative ideas in both soft and hardware
development.
Johnson said her ministry was working with local and international
ICT experts to help achieve the goal of forming a strong synergy with
the capital market for the overall growth and development of the
economy.
The minister while suggesting how to democratise the market, called
for the use of mobile telephonin,g but was quick to add that before such
is achieved, there is need to improve on quality of network of the GSM
providers in the country.
She listed ICT, Agriculture, Oil and Gas, Transportation and Power as critical sectors for economic transformation.
The Director General of Securities and Exchange Commission, Ms.
ArunmaOteh, said one of the things that the Ministry communications
Technology, the Ministry of Youths Development and supervising Ministry
of Finance are doing jointly is to see how they can harness the great
assets in young people.
source:leadership
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