- The Speaker, House of Representatives, Yakubu Dogara, said it may legislate to compel multinational oil, gas and telecommunication corporations to list a certain percentage of their value on the Nigerian Stock Exchange (NSE).
- Dogara said this when he received members of the Nigeria-United Kingdom Capital Market Project in Abuja on Wednesday.
- He contended that there was no justification for the non-listing of multinational oil, gas and telecommunication companies on the NSE.
- The Speaker commended the Memoranda of Understanding between stock exchanges of both countries.
- He said that big companies in the listed sectors must be compelled to list on the capital market in order to deepen the market and make capital available for investors and create employment.
“Apart from capital inflow sought, the market needs to be deepened, as most of the big International companies in Nigeria are not participating in the Nigerian Stock exchange. “This is sad because these companies account for a huge percentage of revenues in oil, communication and energy”,
- Dogara said. Earlier, Mr Aigboje Imoukhede, President, Nigeria Stock Exchange and co-Chairman Nigeria-U.K Capital Market Project, and Sir Rogers Gifford, who is leading the UK team, said the aim of the project was to increase capital flow.
- Source: Vanguard
Telecom, Oil Coys May be Compelled to List On The Stock Exchange
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