Owing to the tremendous growth of the telecommunication industry, the Minister of Communications Technology, Mrs. Omobola Johnson, has called for the listing of more Nigerian companies on the Nigerian Stock Exchange, including companies in the telecoms and Information Technology industry.
Johnson, who made this call at a forum organised by the Nigerian Stock Exchange, tagged, ‘The NSE: Creating Wealth-Sustaining Legacies,’ informed participants that the secotr is the fastest growing sector in the economy. She enjoined compnaies to get listed on the NSE since there is a lot to gain from from listing on the exchange.
The forum, held at the NSE’s headquarters in Lagos, was aimed at sensitizing the public on the benefits of listing on the NSE. The minister said the sector, for the last five years, had been growing year-on-year at an average of 22-23 per cent and contributing 8.3 per cent to Gross Domestic Product as at the second quarter of 2013.
The move will also enhance transparency and corporate governance of companies operating in the country.
The minister said at the forum that the Stock Exchange was an important avenue for the Initial Public Offerings of ICT companies created through incubation centres and accelerators such as the newly established iDEA centres that are situated in Lagos and Tinapa (Calabar), which are expected to create at least 25 successful companies in the next two to three years.