DATAPRO Limited, Nigeria’s technology-driven credit rating agency (CRA), has unveiled its 2023 International Rating Webinar structure.
The event will spotlight the “pivotal role of sub-nationals and credit rating agencies in infrastructure development,” said the agency’s Chief Executive Director, Oladele Adeoye, in a statement on Monday, October 9.
Scheduled to take place virtually on October 12, 2023, the webinar aims to engage key stakeholders deeply involved in Africa’s infrastructure development, primarily focusing on Nigeria.
The event will see active participation from various stakeholders, including capital market operators, credit rating agencies, financial market regulators, subnational governments, institutional investors, private equity firms, and development banks.
The webinar will emphasize exploring sustainable infrastructure development at the subnational level through the capital market.
“The role of subnational governments in driving infrastructure development is well-established, particularly in developed countries. However, in developing nations like Nigeria, subnational governments face challenges in expanding their involvement in infrastructure projects, mainly due to a lack of long-term financing options. To address this, the webinar will seek a road map for sustainable infrastructure development at the subnational level through the capital market.
“Extensive research highlights several viable options for subnational governments to consider, such as development transfers, accessing the capital (debt) market, public sector lending, and public-private partnerships. However, the effectiveness of these options hinges on the implementation of robust policies and frameworks that will improve fiscal responsibility, accountability, transparency, good governance, and creditworthiness at the Subnational level in developing countries, including Nigeria,” the statement added.
According to the convener, the webinar will also address the crucial role of credit rating agencies in evaluating the creditworthiness of subnational governments and additionally delve into discussing policies and frameworks that can enhance the fiscal responsibility of subnational governments, along with exploring developmental finance options for subnational governments in infrastructure projects.
The Director-General Securities & Exchange Commission, Lamido Yuguda, is one of the special guests, while the Managing Director, Nigeria Mortgage Refinance Company, NMRC, Kehinde Ogundimu, is the keynote speaker.
“The webinar will also host an interactive panel discussion involving Director, UCML Capital, Egie Akpata; Managing Director, Africa Plus Partners, Adeniran Ajakaiye; Chairman, Africa Infra Plus Fund, Anhad Narula, among other notable professionals within the capital market.
Usman Mustapha is a solution journalist with International Centre for Investigative Reporting. You can easily reach him via: [email protected]. He tweets @UsmanMustapha_M