By Goddy Egene
The value of transactions on the Nigerian bourse between January and April 2018 stood at N1.091 trillion, showing a jump of 114.2 per cent compared to N509.4 billion recorded in the same period of 2017.
The Chief Executive Officer of the NSE, Mr. Oscar Onyema, who disclosed this on Friday, however said theÂ Â primary market activities hadÂ Â not continued the pace of resurgence recordedÂ Â in 2017. According to him, the 2017 primary markets activities were dominated mostly by supplementary offers, listings by introduction, debt issuances, mergers and divestments.
Speaking at the NSE-London Stock Exchange (LSE) Dual Listing Conference in Lagos, Onyema saidÂ Â the exchangeÂ Â continued to increase its product offerings to the investing public with the listing of securities such as the $300 millionÂ Diaspora Bonds and $3 billionÂ Â Eurobonds in 2017, the N100 billion Federal Government Ijarah Sukuk and the Sovereign Green Bond adding to the nationâ€™s funding options to catalyse the rebound of our economy and offer investment alternatives to the vast majority of Nigerians.
He said theÂ theme of the conference â€“ â€œAttracting Global capital to drive Nigeriaâ€™s Economic Reforms and sustainable Growthâ€Â wasÂ Â Â quite topical for the country at this time.
â€œCapital markets are critical to sustainability of growth and development in an economy. It is my strong belief that one of the things that Nigeria (and Africa) needs to sustain its growth, is a solid and vibrant capital market ecosystem that will attract investment and unlock the potential that exists in the economy,â€ he said.
The NSE boss noted that theÂ collaboration with the LSE wasÂ deliberate and strategic.
â€œIt is geared at encouraging seamless cross-border access between our capital markets to ultimately drive deeper capital markets that enable capital formation for businesses and governments; create larger liquidity pools and greater competitiveness for our investors; and enhance capacity and promote diversity of investment products to meet the needs of a wide range of investors and issuers. This is evidenced by the FGN Sovereign FX denominated $1 billion Eurobond on The NSE and LSE recently, and a strong pipeline of corporate Eurobonds,â€ he said.
He explained that creating and sustaining the growth trajectory of ourÂ Â exchanges, capital markets, financial markets, economies and the continent as a whole, required a strong commitment from each and every one.
â€œIt is not an easy journey, but it is one we have no choice but to embark upon, individually and collectively, in order to guarantee our competitive advantage in todayâ€™s interconnected world. We must use this opportunity to partner with each other, to enable us further unlock our growth potential, and advance the development of our financial and capital markets,â€ Onyema said.