Caption: NSE DG, Oscar Onyema
The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has underlined the need for companies to list on the exchange in order to access cheaper and long term funds from the nation’s capital market.
Speaking at the CEO quarterly dinner for organised by the NSE for the agric sector last Friday in Lagos, Onyema explained that the capital market provides a good avenue for companies to raise funds and boost their operations apart from other benefits.
According to him, companies operating in the agric sector, which is seen as the key to the economic growth of Nigeria, should tap into these opportunities in the capital market.
He said for now only five companies are listed in the agric sector of the exchange, saying those yet to list should no longer delay because they stand to enjoy many benefits.
Onyema noted that as Nigeria’s agricultural sector grows, the capital market is the right platform to raise capital towards this growth and expansion. He said the review of the exchange’s listing requirements was to make room for small firms with growth potential to access the market for funds.
The NSE boss hinted that strategies have been put in place by the exchange to offer listed companies value-added services, geared towards providing transparency, and helping companies maximise value for shareholders.
“Such services cover the areas of corporate governance, investor relation, institutional services, analyst coverage and corporate access. We look forward to sustained recovery in the capital market as it continues to be reformed and strengthened.
“We want to ensure that all of your companies, listed or prospective realise the value of listing on The Exchange, and indeed for a such as this are vital in that effort,” he said.