The Securities and Exchange Commission says it is ready to encourage state-owned companies to list on the Nigerian Stock Exchange in line with President Bola Tinubu's Renewed Hope Agenda.
Disclosing this in an interview in Abuja on Thursday, the Director General of the SEC, Dr. Emomotimi Agama, said when such companies list their securities, it would lead to democratization of their operations, inclusion and wealth creation for Nigerians.
He said: “Inclusion is very important because in inclusion, one has a sense of belonging. And so, we all build our industries and the country together.
“For us at the SEC, we would provide incentives that would encourage, to the extent possible, these state-owned companies to go public.
“You know that in addition to incentives, one of the things that we at the SEC will continue to do is educate those who manage these institutions, so that they understand that the inclusion of these institutions on the list does not take away their power.
“Rather, it provides greater power, because united we stand, divided we fall.”
Agama said the Commission will continue to provide education, provide incentives and most importantly, ensure that time to market is reduced, adding: “by giving them that certainty, by giving them the security, knowing full well that when they want to come to the market, when they decide to come to the market, they will be able to follow a timetable, and that timetable is supported by the SEC.”
The Director General revealed that the SEC is also working towards inclusion through technology and added that the use of technology will make the capital market more attractive, especially for the younger generation.
“That is why we encourage applications, we encourage FinTech tools and that is why we support the launch of the electronic offering platform on the Nigerian stock exchange.
“And we encourage everyone who wants to participate and is qualified to participate in this process, to change the way people view investment.
“We want investors to have a wonderful experience. We want them to feel comfortable, we want everything to be so easy for them that every time they want to invest it brings them happiness, and we will continue to do that by promoting technology, education and whatever we have to do, incentivizing industries and making sure that the obstacles are removed and the Nigerian capital market is rejuvenated,” he added.
