How do they achieve that ? Through a series of measures and rules:
-Listing of the NSE itself to help the value of the exchange
-To encourage expansion of the fixed income market.Nigeria central Bank has already hiked the rates on fixed income securities and cut taxes.
-To push pension funds towards stock investments which are limited to a total of 12 billion dollars so far.
-Introduction of a new code of corporate governance
New listing of companies could also bring in that new blood so much needed to move towards the goal.
The state oil company is expected to float its joint venture companies on the NSE,the same move is expected in the power industry where some 19 new electricitygeneration and distribution companies are expected to attempt to raise the 50 billion dollars investment capital required on the NSE.
Other companies wished to list on the NSE include, Shell,Exxon and MTN Nigeria.
Nigeria stock market quick profile
Capitalisation of about 40 billion dollars
217 companies listed on the NSE
Five million Nigerians out of a population of 165 million are shareholders
|Source rinted version of The Africa Report |
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