Minister backs proposal to list MTN in NSE

THE Minister of Science and Technology, Dr Ogbonnaya Onu, has said that the proposal to list the telecommunication giant, MTN in the Nigerian Stock Exchange (NSE) will foster good business for MTN Nigeria and boost the nation’s economy.

Ogbonnaya said this, when the delegation from MTN Nigeria communications limited paid a courtesy visit to his office in Abuja.

He said that MTN Nigeria, with 62 million subscribers had played a dominant role in the telecommunication industry in Nigeria and had contributed to her economy.

He said that most developed countries came to source for raw materials in Africa, pointing out that, as at today, 80 per cent of developed countries relied on African raw materials and it would be important for Africa to develop the appropriate technology and utilise it for her common good.

Dr Onu reiterated that the ministry was committed in working to redirect the Nigerian economy from a resource-based economy to a knowledge-based economy.

He added that Nigeria should be the leading market because of the population it has and that MTN should tap into the huge human capital that Nigeria was endowed with.

Earlier, the leader of the delegation, who is the Deputy Head Mergers Acquisition, MTN Nigeria Communications Limited, Mr Kholekile Ndamese, informed the minister that MTN was listing the company in the Nigerian capital market, which is one of the largest markets in the continent.

He said the listing would showcase Nigeria in the global spotlight, and MTN group had structured the listing as a give-back project for its teeming customers in Nigeria, which was broad-based and inclusive in nature.