15 December 2012

Nigeria: NSE Targets U.S.$1 Trillion Market Capitalisation By 2016

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, at the weekend said that the Exchange has set a target of $1trillion market capitalisation by 2016.

Onyema disclosed this at the 21st Annual General Meeting and Delegates' Conference of the Financial Market Dealers Association (FMDA) in Lagos.

"If you look at the purchasing power parity, at $1 trillion, the capital market capitalisation will boom. It is not impossible to achieve, though it sounds big, "he said.

He explained that in the last one year, the exchange had recorded remarkable progress as well as improved market excellence.

Onyema, however expressed concern that a lot of firms were not listed on the exchange and urged them to take advantage of the market to expand their businesses.

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