The Senate Committee on Capital Market has said that the newly signed Investment and Securities Bill 2025 will make the proposed 1 trillion dollars economy by President Bola Tinubu become a reality.
The Senate also affirmed that with the act in place, sub-nationals can now approach the capital market for long-term loans to finance their projects.
The assurance was given by the chairman of the Senate Committee and sponsor of the original bill that was signed into an act, Senator Osita Izunaso, in an interview with journalists in Abuja.
Recall that Tinubu had, during his 2023 presidential campaigns, promised to build a jumbo-sized economy, aiming for a 1 trillion dollars GDP by 2030.
Izunaso disclosed that aside from putting an end to the illicit operation of Ponzi schemes in the country, state governors and local government chairmen are now free to approach the capital market for loans.