Just as President Bola Tinubu went to the NASDAQ headquarters in New York, to seek investments, the leadership of the Nigerian Exchange Limited (NGX), is also canvassing foreign investors to come to Nigeria.
There are many days President Bola Tinubu will easily forget but there are other days that will stick with him forever.
A good example of such is the day he was sworn in as president of the Federal Republic of Nigeria and the day he was sworn in as governor of Lagos State, among others.
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Also, President Tinubu will never forget the day he rang the closing bell at NASDAQ headquarters in New York.
Tinubu, made the trip along with the Chief Executive Officer (CEO), Nigerian Exchange Limited, (NGX), Temi Popoola, who has promised to help government raise capital for key projects.
Popoola, revealed this in an interview with the BBC in London.
Delivering Returns To Investors
He hopes that by raising the needed capital, the government will be able to address the challenges facing Nigerians and create wealth for its people.
According to him, Tinubu’s administration is presently undertaking some tax reforms to boost revenue.
This he believes can help harness the potential of the capital market to create value and simultaneously achieve its objectives while delivering returns to investors.
The NGX boss, said: “Since the onset of the COVID-19 pandemic in 2020, foreign investment in Nigeria has dwindled, mirroring the trend observed in other emerging economies during the same period”.
Laying the projections bare for every investor, Popoola said: “We are here to emphasise to investors that Nigeria is open for business and to also reinforce that the enormity of the challenges is clear, and work has begun to address all the issues.
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“Whether capital inflows or foreign exchange illiquidity, NGX remains a veritable platform for solving these economic challenges”.
According to Popoola, encouraging listings can also address government’s problems including tax revenues, and create value for shareholders as listed companies have better governance and are more accountable with tax payment.
