FG plans incentives to boost listing on NSE

By Chioma Obinagwam

The Federal Government(FG) has said it will consider incentives to encourage companies to list their shares on the Nigerian Stock Exchange (NSE).

Vice President, Federal Republic of Nigeria, Professor Yemi Osinbajo, gave this assurance at the weekend during a working visit to the NSE in Lagos.

He noted that it was imperative given the
importance of the Nigerian capital market as a major driver of economic activities and investments.

He noted that while the main focus of the government is to
create a generally amenable operating environment for the
private sector to thrive, government will also consider proposals from the Exchange on ways to encourage listing and
support corporate growth.

“We certainly want to encourage listing, and that’s part of why I am here, to promote interest in the market,” Osinbajo said.

While interacting with market stakeholders and traders, he said the government would work with the market stakeholders to determine possible areas of incentives and
supports that could stimulate participation in the Nigerian
market.

“We will be acting a lot on the advice of the NSE
council. Where the NSE council or the market makers think that there are things that may be done to make life easier in some way or to encourage listing in some way, we will be
happy to listen to those,” Osinbajo said.

He however ruled out direct government intervention in goading privatised companies to list their shares, noting that the decision to list by private companies will remain
decisions of their boards and shareholders.