SEC Encourages State-Owned Enterprises to List on Nigerian Exchange
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has reiterated its commitment to facilitating the listing of State-Owned Enterprises (SOEs) on the Nigerian Exchange (NGX) in alignment with President Bola Tinubu’s Renewed Hope Agenda.
According to a statement released by the SEC on Thursday, the Director-General, Dr. Emomotimi Agama, emphasized that the listing of SOEs would foster greater inclusivity, democratize their operations, and create wealth opportunities for Nigerians.
“Inclusivity is paramount, as it promotes ownership and collective growth of our industries and the nation,” Dr. Agama stated. “The SEC will provide incentives to encourage SOEs to list their securities, while also educating their management on the benefits of this move.”
The Director-General dispelled concerns about loss of control for SOEs, asserting that listing actually enhances their power through unity. “United we stand, divided we fall,” he emphasized.
To facilitate the listing process, the SEC is prioritizing reduced time-to-market and providing certainty to SOEs. “We will ensure a predictable timeline and offer unwavering support throughout the process,” Dr. Agama assured.
In addition to encouraging SOEs, the SEC is actively working to make the capital market more accessible, particularly for the younger generation. Technology plays a crucial role in this endeavor, and the Commission is supporting initiatives like the e-offering platform on the NGX to provide a seamless and user-friendly investment experience.
“We aim to create a positive and enjoyable investment experience that encourages participation and contributes to the rejuvenation of the Nigerian capital market,” Dr. Agama concluded.
