Private company listing, boards’ decision —FG

The Federal Government has said while it encourages private company listing into the Nigerian Stock Exchange (NSE), the decision is solely the board of management’s as well as its shareholders.

Vice President, Federal Republic of Nigeria, Professor Yemi Osinbajo, during a working visit to the NSE in Lagos, reiterate the government commitment towards rejuvenating the country’s capital market as an important driver of economic activities and investments but 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.

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.

He said the government would work with the market stakeholders 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.

Osinbajo interacted with market stakeholders and traders and performed the ceremonial closing of the market in the company of Alhaji Aliko Dangote, a former president of the NSE and the owner of the largest group of companies on the Exchange.