Nigerian Stock Exchange   Commits to Support Economic   Growth of Osun State

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Goddy Egene

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has said the exchange was committed to  supporting The State of Osun  in its efforts towards advancing the fortunes of state for the benefit of the citizens.

Onyema stated this while speaking at the  presentation of the Osun State Facts Behind the Economy by  Governor Adegboyega Oyetola at the exchange in Lagos last Thursday.

“As we continue to develop  the exchange  to attract local and international investors, we wish to partner with the State and its agencies to achieve the benefits of privatisation of its state owned enterprises and other initiatives of both entities across various sectors,” he said.

According to him, the State of Osun  has a remarkable track record of capital market credential  having raised  about N41 billion from the capital markets over the past 10 years.

 “The first issuance of sovereign Sukuk bond in Nigeria was in 2013 by the State of Osun, through the Osun Sukuk Company Plc, which issued a N11.4 billion bond in 2013, for the construction of 26 millennium model schools.  The State alongside Morgan Capital Securities Limited own 83 per cent shares of Omoluabi Mortgage Bank, which was the first-listed firm on the Alternative Securities Market of the Exchange,” Onyema said.

The NSE boss explained that to build a sustainable economy for the estimated 4.31 million citizens of Osun, supported by vibrant sectors and diverse enterprises, both state owned and private sector enterprises will require access to right sized capital.

“ Accordingly, our capital market platform is geared at attracting investors towards all the sectors of the economy whilst catering for small, medium and large businesses represented on the various boards of the NSE,” he said.