Don't Miss


Home   >   Nigerian Stock Exchange   >   US Envoy bullish about Nigerian Capital Market

US Envoy bullish about Nigerian Capital Market

By on April 18, 2014

The United States (US) Ambassador to Nigeria, Mr. James Entwistle, Wednesday said the  improvement in the regulation of the Nigerian capital market and general business environment would attract more investments from the US.

Speaking when he visited the Nigerian Stock Exchange (NSE) in Lagos, Entwistle said the listing of privatised companies on the NSE would benefit  the people of the country.

He said, “I understand that government officials and regulatory authorities are considering a requirement that newly privatised Nigerian companies list on the NSE. I am also aware of legislation in the National Assembly that would transform the NNPC into a national oil company that could list up to one-third of its equity on the NSE.

Other national companies like Petrobras and Petronas have long been traded on publicly and have thrived as global competitors in the oil sector. Being answerable to shareholders forces a level of transparency and market discipline that will only benefit the Nigerian People,” he said.

The ambassador commended the Securities and Exchange Commission and the NSE, for their roles in improving regulatory oversight in the country thereby contributing to economy growth and development.

He said several listed firms have enjoyed remarkable growth and are driving the economy forward, creating opportunities for trade and investment.

He said a healthy stock market is a vote of confidence in Nigeria’s future because it will give Nigerian pensioners and investors a place to invest for the long term.
Entwhistle disclosed that the US would continue to collaborate with Nigeria to promote policies that would lead to broad-based, sustainable growth and improved trading relationship between both countries.

“There is already a good level of US/Nigeria commercial cooperation. Some of our biggest companies are active here in Nigeria. And I believe that as your government continues to make the investment climate here attractive to foreign companies, you will continue to see the GEs (General Electric) and the Procter and Gambles and the other key US companies coming to Nigeria,” he said.

 

 

[This Day]