4 June 2018

Nigeria: Transactions Value On NSE Jumps 114% to N1.1 Trillion in Four Months

The value of transactions on the Nigerian bourse between January and April 2018 stood at N1.091 trillion, showing a jump of 114.2 per cent compared to N509.4 billion recorded in the same period of 2017.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, who disclosed this on Friday, however said the primary market activities had not continued the pace of resurgence recorded in 2017. According to him, the 2017 primary markets activities were dominated mostly by supplementary offers, listings by introduction, debt issuances, mergers and divestments.

Speaking at the NSE-London Stock Exchange (LSE) Dual Listing Conference in Lagos, Onyema said the exchange continued to increase its product offerings to the investing public with the listing of securities such as the $300 million Diaspora Bonds and $3 billion Eurobonds in 2017, the N100 billion Federal Government Ijarah Sukuk and the Sovereign Green Bond adding to the nation's funding options to catalyse the rebound of our economy and offer investment alternatives to the vast majority of Nigerians.

He said the theme of the conference - "Attracting Global capital to drive Nigeria's Economic Reforms and sustainable Growth" was quite topical for the country at this time.

"Capital markets are critical to sustainability of growth and development in an economy. It is my strong belief that one of the things that Nigeria (and Africa) needs to sustain its growth, is a solid and vibrant capital market ecosystem that will attract investment and unlock the potential that exists in the economy," he said.

The NSE boss noted that the collaboration with the LSE was deliberate and strategic.

"It is geared at encouraging seamless cross-border access between our capital markets to ultimately drive deeper capital markets that enable capital formation for businesses and governments; create larger liquidity pools and greater competitiveness for our investors; and enhance capacity and promote diversity of investment products to meet the needs of a wide range of investors and issuers. This is evidenced by the FGN Sovereign FX denominated $1 billion Eurobond on The NSE and LSE recently, and a strong pipeline of corporate Eurobonds," he said.

He explained that creating and sustaining the growth trajectory of our exchanges, capital markets, financial markets, economies and the continent as a whole, required a strong commitment from each and every one.

"It is not an easy journey, but it is one we have no choice but to embark upon, individually and collectively, in order to guarantee our competitive advantage in today's interconnected world. We must use this opportunity to partner with each other, to enable us further unlock our growth potential, and advance the development of our financial and capital markets," Onyema said.


Most African Children Without Birth Certificates Are Nigerians

For every 10 Nigerian children that are at least five years old, there are no records about the birth of seven. Even… Read more »

See What Everyone is Watching

Copyright © 2018 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.