Nigeria’s first Professor of Capital Market Research, Professor Uche Uwaleke, has suggested the federal authorities to record state-owned enterprises on the Nigerian Trade (NGX) to fund improvement throughout the nation.
He made this recognized on Wednesday, February 26, 2025, whereas delivering Nasarawa State College’s fiftieth Inaugural Lecture, tagged “Unlocking Wealth and Leveraging Entrepreneurial Information Ecosystems: Understanding Capital-Harnessing Necessities.”
Prof. Uwaleke at present serves because the Director of the Institute of Capital Market Research at Nasarawa State College, Keffi.
Talking on the occasion, he said that whereas the Nigerian capital market has recorded exceptional enhancements within the final decade, a number of challenges inhibit the conclusion of its potential.
“Solely 10 out of 151 listed firms account for over 60% of equities market capitalization,” he said.
“The Federal Authorities (FG) is due to this fact suggested to promote stakes in state-owned enterprises by way of the Exchanges to boost funds for improvement,” he said.
Concerning incentives, he emphasised that these might take varied kinds and have the potential to encourage extra firms to hunt citation on the Trade.
“The Nationwide Universities Fee (NUC) ought to rise to the event by often rating universities in Nigeria to stimulate the curiosity of ranking companies,”he added.
He additionally referred to as on the federal government to optimize the nation’s capital market potential by encouraging investments in Actual Property Funding Trusts (REITs) to unlock capital for housing improvement, in addition to develop a strong secondary mortgage market to enhance entry to inexpensive housing finance.
He maintained that unlocking Nigeria’s hidden wealth by way of the capital market is feasible if stakeholders leverage the market’s potential to mobilize and allocate assets whereas rising the entrepreneurial data ecosystem.
The Nigerian Trade is a inventory alternate that enables traders to commerce and record securities.
The 12 months’s fairness actions mirrored a strategic mixture of public choices, rights points, and personal placements, as firms raised capital to adjust to regulatory mandates, deal with international alternate challenges, and fund strategic progress initiatives.
