Nigerians will soon be able to buy shares in the Nigerian National Petroleum Company Limited (NNPCL) and several other state-owned enterprises (SOEs).
This initiative aims to enhance public participation in the economy and improve transparency in state operations.
The Nation reports that the Securities and Exchange Commission (SEC) said that all of these firms had been contacted regarding the listing process on the Nigerian stock market.
Some of the enterprises include:
For the companies to be eligible for listing on the Nigerian Exchange (NGX), these SOEs must meet specific criteria, including a minimum market capitalisation of N500 million and pre-tax profits of at least N300 million.
Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), said the development is significant for Nigeria’s economy.
He noted that it would lead to a more inclusive and democratised business environment.
Agama also reassured that listing will not diminish the control of SOEs but will empower them through enhanced governance and stakeholder engagement.
Agama highlighted that listing SOEs on the NGX would facilitate wealth distribution and democratise their operations, allowing more Nigerians to hold ownership stakes.
In related news, TimesNow.com.ng reported that the NGX and the SEC unveiled a digital platform for purchasing shares.
NGX chief executive officer Temi Popoola said the platform is embedded with capabilities to facilitate transactions.
The NGX also recently launched a shortcode or USSD to allow Nigerians to own quoted company shares.
Source: TimesNow.com.ng
