FG Plans Incentives to Support Listing of Firms on NSE
By Goddy Egene
The federal government has pledged to introduce incentives that will enable businesses to thrive and list on the Nigerian Stock Exchange (NSE) as part of efforts to reposition the nation’s economy. Vice President of Nigeria, Prof. Yemi Osibajo, stated this at the NSE last Friday after meeting with management of the exchange in Lagos.
Osibajo, who also called for government-private sector partnership, disclosed that his interaction with the NSE Council members had helped in understanding some of the issues and are seeing a way to deal with them.
“We are considering incentives regime that will enable businesses to thrive because as you know the immediate challenges are power, exchange rate and infrastructure. And all of these are things we are working on day by day basis. My interaction with the Council of the NSE has helped in a great deal in understanding some of the issues and we are seeing the way we can deal with it. This is a partnership between the government and the private sector, government being a mere regulator and enabler,” he said.
Osibajo added that the government will do all that is necessary to support efforts to ensure listing of more companies on the exchange.
“The major thing is that there is engagement already on listing several major companies. And many of the companies have already indicated interests in listing. And I think for privatised companies, the decision is not in the hands of the government because they are already privatised, listing should be the decision of the new owners. So, really it’s not the government that will decide on the listing of the privatised companies, but we are fully ready to encourage listing on the exchange. The NSE is an important driver of the economic activities, an important driver of investment for the federal government. That is an absolute necessity, I do not think we need to wonder whether the government want to encourage listing. We certainly want to encourage listing, and that is part of why I am here, to promote interest in the market,” he said.
He assured stakeholders that the government would with the NSE and other private sector operators ensure the economy recovers and become beneficial to every citizen.
Osibajo added that government would work with the capital market community so that funds could be sourced from the market to finance the federal budget going forward.