Telecomm & Oil Companies May be Compelled to be Listed on NSE - Reps Speaker, Dogara

 

During the time he received members of the Nigeria-United Kingdom Capital Market Project in Abuja on Wednesday, the Speaker, House of Representatives, Yakubu Dogara, said the lower chamber of the National Assembly may legislate to compel multinational oil, gas and telecommunication corporations to list a certain percentage of their value on the Nigerian Stock Exchange (NSE).

According to him, there is no justification for the non-listing of multinational oil, gas and telecommunication companies on the NSE. He commended the Memoranda of Understanding between the stock exchanges of UK and Nigeria.

He said that big companies in the listed sectors must be compelled to list on the capital market in order to deepen the market and make capital available for investors and create employment.

“Apart from capital inflow sought, the market needs to be deepened, as most of the big International companies in Nigeria are not participating in the Nigerian Stock exchange. This is sad because these companies account for a huge percentage of revenues in oil, communication and energy,” Dogara said.