Enabling Policy and Regulatory Environment, Key to Attracting More Listings To The Nigerian Stock Exchange - Johnson Chukwu
An Enabling Policy and Regulatory environment, is key to attracting more listings to the Nigerian Stock Exchange, that will translate to a robust, diversified, liquid and competitive global market.
Mr Johnson Chukwu the Group Managing Director, Cowry Asset Management made this assertion as a guest on the WebTV "Market Review" show anchored by Ottoabasi Abasiekong, which discussed "Regulations and Capital Market Development In Nigeria".
According to him the Capital Market Master Plan (2015-2025) is a good initiative that can catalyze the growth and development of the Nigerian Stock Exchange, with effective implementation and increased financial literacy and awareness.
He called for incentives like Tax on dividends amongst others to encourage more companies across the sectors, to list on the stock market. Mr Chukwu cited examples of the Trade sector which contributes 13% of the Country's GDP but has a lean representation in the market, same with the power sector, mining, agriculture and retail segment.
The market analyst described the presentation of the revised Petroleum Industry Bill, PIB by President Muhammadu Buhari to the National Assembly, as a good step in the right direction, which can lead to the liberalization of the state-owned oil company (NNPC) in the market.