The Securities and Exchange Commission (SEC) has urged State-Owned Enterprises (SOEs) to list their securities on the Nigerian Exchange (NGX).
This move the Commission said aligns with President Bola Tinubu’s “Renewed Hope” agenda, which emphasizes economic inclusiveness, democratization of businesses, and wealth creation for Nigerians.
In a statement issued on Thursday, the Director General of the SEC, Emomotimi Agama, noted the importance of SOEs listing their securities, emphasizing that it would lead to a more inclusive and democratized business environment.
Agama explained that such a development would not only spread ownership of these enterprises but also foster collective responsibility for the growth of Nigeria’s industries.
According to Agama, listing State-Owned Enterprises on the NGX would facilitate wealth distribution among Nigerians and democratize the operations of these companies, allowing more individuals to take ownership stakes in them.
“Inclusivity is very critical,” Agama said. “Because in inclusivity, you have ownership, and so we all build our industries and the country together.” This approach is seen as a step towards deepening public participation in the capital markets while simultaneously advancing the country’s broader economic agenda.
