Some financial experts on Thursday said that the Nigerian Stock
Exchange (NSE) could hit one trillion dollars capitalisation by 2016 if
all multinationals in Nigeria were listed on the Exchange.
They said in Lagos that the government and other stakeholders should sustain ongoing reform to boost investor confidence in the market.
The market capitalisation was N11.91 trillion or (75 billion dollars) as at May 22. Mr Emmanuel Ohanwusi, the First Vice President, Chartered Institute of Stockbrokers (CIS), said that although the current figure was low, the one billion dollar mark could be attained. Ohanwusi urged the government to convince multinationals to list on the NSE.
According to him, the government should convince multinationals to imbibe the doctrine of necessity and list their shares on the NSE. He said that government should ensure that certain threshold of all its future divestment and privatisation were listed on the NSE.
Ohanwusi, who is also the Chief Executive of Maxifund Investment & Securities, however, said that political instability or policy somersault could derail the target. Mr Harrison Owoh, the Managing Director, HJ Trust & Investment Ltd., called for tax incentives to encourage more listings on the nation’s bourse. Owoh said that government should pay more attention to infrastructure development.
He reiterated that poor infrastructure had raised the cost of business and lowered their survival rate.
Mr David Adonri, the Chief Executive Officer, Lambeth Trust & Investment Ltd., said that the reactivation of the bond market and introduction of new products would deepen the market. Adonri said that the overall plan of the NSE “is to deepen the market through multiple products offerings and make the Exchange a destination of choice by investors in the emerging market.”
They said in Lagos that the government and other stakeholders should sustain ongoing reform to boost investor confidence in the market.
The market capitalisation was N11.91 trillion or (75 billion dollars) as at May 22. Mr Emmanuel Ohanwusi, the First Vice President, Chartered Institute of Stockbrokers (CIS), said that although the current figure was low, the one billion dollar mark could be attained. Ohanwusi urged the government to convince multinationals to list on the NSE.
According to him, the government should convince multinationals to imbibe the doctrine of necessity and list their shares on the NSE. He said that government should ensure that certain threshold of all its future divestment and privatisation were listed on the NSE.
Ohanwusi, who is also the Chief Executive of Maxifund Investment & Securities, however, said that political instability or policy somersault could derail the target. Mr Harrison Owoh, the Managing Director, HJ Trust & Investment Ltd., called for tax incentives to encourage more listings on the nation’s bourse. Owoh said that government should pay more attention to infrastructure development.
He reiterated that poor infrastructure had raised the cost of business and lowered their survival rate.
Mr David Adonri, the Chief Executive Officer, Lambeth Trust & Investment Ltd., said that the reactivation of the bond market and introduction of new products would deepen the market. Adonri said that the overall plan of the NSE “is to deepen the market through multiple products offerings and make the Exchange a destination of choice by investors in the emerging market.”
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