FG, NSE deepen partnership to boost capital market’s growth

Federal government and the Nigerian Stock Exchange (NSE) have further deepened their relationship in a bid to boost the growth of  the Nigerian capital market and the nation’s economy.

The Chief Executive Officer of the NSE, Oscar Onyema and Minister for Industry, Trade and Investment, Dr. Okechukwu Enelamah disclosed this in Lagos at the Closing Gong Ceremony in commemoration of the successful completion of the reforms under National Action Plan (NAP) 4.0 at the Exchange, yesterday.

NAP 4.0, ran from March 1 to April 29, 2019 with the aims to further reduce the challenges encountered by Small and Medium Enterprises and businesses in identifying areas of focus such as starting a business, getting credit, paying taxes, enforcing contracts or trading within and across borders by eliminating critical bottlenecks and constraints to doing business in Nigeria.

Addressing Stockbrokers at the NSE trading floor, Enelamah said that “This partnership will make our capital market better and stronger.

“We want the partnership between the government and private sector that will be reflected on our stock exchange to support businesses.”

He stated that “We want businesses in the country to do well and this is the role of the Presidential Enabling Business Environment Council, which is primarily to support businesses to prosper.”

He stated that the initiative was in line with the commitment to deliver reforms aimed at improving the enabling environment for doing business in Nigeria through systemic interventions.

Speaking further, Enelamah said “We look at this partnership as extremely important and therefore what we are doing today is not only symbolic, but  significant. We hope it will lead to a better cooperation and relationship between the stocks market and the government and  within the private sector and the government.”

The chief executive officer of NSE, Oscar Onyema noted that there has been a lot of progress in improving ease of doing business in Nigeria, adding  that Nigeria has been moved from 169 position in ease of doing business ranking to about 126

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