FG promises to work with NSE to boost economy
The Federal Government has promised to work with the Nigerian Stock Exchange (NSE) to promote the Nigerian stock market given the role of the exchange as an important driver of economic activities and investments.
The Vice President, Prof. Yemi Osinbajo, said this during a courtesy visit to the NSE in Lagos on Friday where he had interactive session with capital market stakeholders and performed in the closing gong ceremony of the exchange.
As part of the plans, he said the FG was considering introducing incentives aimed at attracting multinationals in telecoms, oil and gas to list on the Exchange saying that government would encourage more companies to list on the NSE in order to spur activities in the market and create more wealth for the investing public.
According to him, “We will be acting a lot on the advice of the NSE council. Where the NSE council or the market makers think that there are things that may be done to make life easier in some way or to encourage listing in some way, we will be happy to listen to those,” he said.
He however ruled out direct government intervention in pushing privatised companies to list their shares noting that the decision to list by private companies will remain decisions of their boards and shareholders.
NSE’s Council President, Aigboje Aig-Imoukhuede, commended the vice president for the visit and said that the exchange would work with the Federal Government to tackle challenges facing the market.
He said that the NSE would follow up on the federal government’s plans to grow and deepen the market.
The doyen of stockbrokers, Alhaji Rasheed Yussuf, called for more interaction between the stock market community and the Federal Government to boost the economy, he, however, decried some policies made by the government in the past, saying they are disincentives to the market.
Similarly, he praised present government for taken some bold steps in strengthening the economy, while urging it to incorporation a stockbroker to represent the market in government economic team. “We want one of us on the Federal Government economic management team to ensure friendly policies that will move the market forward”, he said.
Picture caption:
First Vice President, The Nigerian Stock Exchange (NSE), Abimbola Ogunbanjo (left); Chief Executive Officer, NSE, Oscar N. Onyema; Vice President, Federal Republic of Nigeria, Prof. Yemi Osinbajo; President, NSE, Aigboje Aig-Imoukhuede; and former President, NSE, Alhaji Aliko Dangote, during an interactive session with capital market stakeholders and closing gong ceremony at the NSE on Friday.
