L
LequteMan
Guest
Mr Oscar Onyema, Chief Executive Officer (CEO), the Nigerian Stock Exchange (NSE) on Wednesday admitted that the one trillion dollars targeted for capitalisation by 2016 was no longer feasible.
Onyema made the assertion at the “NSE 2014 market review and outlook for 2015” in Lagos.
He said that the national economic challenges and the slow market recovery made the capitalisation projection impossible.
“The targeted 2016 capitalisation was set across five asset classes and would not be possible to achieve considering present realities.
"We no longer believe that it is possible to meet the target, given where we are today.
“But we believe that our new strategy up to 2019 has more realistic targets and we are approaching it now in a different perspective," Onyema said.
The NSE CEO said that the Exchange would focus more on establishing the right market structure to boost investor confidence and attract new listings in the years ahead.
Onyema said that the NSE would introduce diverse products to enhance investment diversification and ensure an enabling policy that supports market confidence, to ensure market based stability.
Some financial experts had expressed doubts on the Nigerian Stock Exchange (NSE's) ability to actualise its projected one trillion dollar market capitalisation by 2016.
#Nigeria #NSE
Onyema made the assertion at the “NSE 2014 market review and outlook for 2015” in Lagos.
He said that the national economic challenges and the slow market recovery made the capitalisation projection impossible.
“The targeted 2016 capitalisation was set across five asset classes and would not be possible to achieve considering present realities.
"We no longer believe that it is possible to meet the target, given where we are today.
“But we believe that our new strategy up to 2019 has more realistic targets and we are approaching it now in a different perspective," Onyema said.
The NSE CEO said that the Exchange would focus more on establishing the right market structure to boost investor confidence and attract new listings in the years ahead.
Onyema said that the NSE would introduce diverse products to enhance investment diversification and ensure an enabling policy that supports market confidence, to ensure market based stability.
Some financial experts had expressed doubts on the Nigerian Stock Exchange (NSE's) ability to actualise its projected one trillion dollar market capitalisation by 2016.
#Nigeria #NSE
