Capital market regulators have been called upon to do more to encourage companies operating in the local business environment to list their shares on the Nigerian Stock Exchange.

According to stakeholders in the market, this is essential in view of the fact that it will help to deepen the market.

The stakeholders, who spoke on different occasions, noted that this was an integral move that would boost the market and increase participation in the market.

The Chief Executive Officer, PEARL Awards Nigeria, Mr. Tayo Orekoya, said in a statement made available to our correspondent on Friday, that there were lots of things that the market regulators could do, in collaboration with the Federal Government, to this end.

He said that in some other countries, various rules and timelines were given to companies upon commencement of their operations to ensure that they listed their shares on the Exchange within a specific time. 

Orekoya noted that the regulators should also consider incentives that would attract new listings into the market, especially listings from companies in the telecommunication and oil & gas sectors.

He said, “Some of these companies, especially those with parent organisations abroad should be given timelines for listing their shares on the NSE before they commence operations. I know this is obtainable in some other countries abroad.

“It is important to provide the necessary environment for the listing of telecoms and oil & gas companies. The regulatory authorities should also be more proactive, focused and watch their utterances in order to attract these firms, as the market is information-driven.”

He also called on the regulators to provide incentives to attract those companies to the stock exchange, stressing that they might consider measures like tax incentives so that other companies could follow suit.

According to Orekoya, more listings are important at this time in the market to ensure that there is more depth in the market to cushion the harsh trend of persistent losses incurred by investors in the past few months.

 ÃƒÂ¢Ã¢â€šÂ¬Ã…“I wish to reiterate the need for concerted and well focused regulatory initiatives that would speedily restore sanity, renew investors’ confidence, promote market stability and return the stock market to the path of growth and development,” he stated.

The Director-General, Securities and Exchange Commission, Ms. Arunma Oteh, had recently said that it the commission was putting plans in place to increase the depth in the Nigerian capital market, by ensuring that new issuances were brought into the market.

She said, “We are aware that new issues and listings would work towards improving and increasing the depth in the Nigerian Stock Exchange, and it is important that we, the regulators, do all we can to ensure that there are more issuances in the market.

 ÃƒÂ¢Ã¢â€šÂ¬Ã…“We want to do all we can to ensure that the market remains attractive so that more investors, both local and foreign would be attracted to the market.”

Source: Punch/Udeme Ekwere