{"id":450609,"date":"2011-06-29T23:00:43","date_gmt":"2011-06-29T23:00:43","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/29\/capital-market-nse-targets-n153trn-market-value-by-2016\/"},"modified":"2011-06-29T23:00:43","modified_gmt":"2011-06-29T23:00:43","slug":"capital-market-nse-targets-n153trn-market-value-by-2016","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/29\/capital-market-nse-targets-n153trn-market-value-by-2016\/","title":{"rendered":"Capital Market: NSE targets N153trn market value by 2016"},"content":{"rendered":"
\n

The Nigerian Stock Exchange, NSE, has said that it is targeting a market value of listed securities of N153 trillion ($1 trillion) by the year 2016.<\/p>\n

The NSE also disclosed that the demutualization of the NSE will commence July 2011.<\/p>\n

Speaking in an interview in Moscow, Tuesday, Chief Executive Officer, NSE, Mr. Oscar Onyema expressed confidence that the target will be achieved if it succeeds in getting companies in the oil and gas sector, telecommunication companies, companies in the power sector and companies in the agricultural sector to list on the NSE.<\/p>\n

\u201cOur goal,\u201d he said, \u201cis to grow our market capitalisation from N11.322 billion ($74 billion) to N153 billion ($1 trillion) in five years. If we can attract the oil and gas sector, if we can attract the telecoms sector and power sector, then we should be able to hit those numbers.<\/p>\n

\u201cOil exploration, power and telecommunications companies aren\u2019t represented on the bourse and would be totally new areas for the exchange. Agriculture is another area where we will be making a push, as it is underrepresented on the stock exchange and makes up 40 per cent of Nigeria\u2019s gross domestic product.<\/p>\n

\u201cWe really want them because we believe a well functioning capital market is a good barometer for the economy. So where these major sectors are not represented in our capital markets today, we are not giving you an accurate picture of the economic potential of Nigeria.\u201d<\/p>\n

Speaking further, Onyema said that the demutualization of the NSE, is expected to commence next month.<\/p>\n

According to him, there is no specific time frame for the demutualization programme, adding however, that the committee focusing on the exercise is scheduled to flag off the programme next month.<\/p>\n

He said, \u201cThe NSE has no time frame for plans to demutualize and a committee focusing on the process is scheduled to start next month.<\/p>\n

\u201cWe want to do it right, we do not want to do it in a rush. We want to make sure we take into consideration all the stakeholders and we address all the key questions that need to be addressed as part of the demutualisation process.\u201d<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

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The Nigerian Stock Exchange, NSE, has said that it is targeting a market value of listed securities of N153 trillion ($1 trillion) by the year 2016. 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