Market regulators urged to provide incentives for Telecoms, oil companies’ to list at NSE

Capital market regulators have been urged to consider incentives that will attract

Capital market regulators have been urged to consider incentives that will attract telecommunication companies and oil & gas companies to list their shares on the Nigerian Stock Exchange (NSE).

This advice comes on the heels of increasing calls from various stakeholders from the public and private sectors, on the need for telecommunication companies and oil & gas companies to list their shares on the Nigerian Stock Exchange.

“It is necessary to provide the necessary environment for the listing of telecoms and oil & gas companies. The regulatory authorities should also be more proactive, focused and watch their utterances in order to attract these firms, as the market is information driven. They (regulators) should also provide incentives to attract these companies to the stock exchange,” said Tayo Orekoya, president/CEO, PEARL Awards Nigeria.

Orekoya spoke in Lagos Wednesday at the world press conference on the forthcoming 2011 PEARL Awards Nite when companies and individuals will be rewarded for their contribution meaningfully to the growth of the capital market in Nigeria.

He Said :”We are not unaware of the downturn in the capital market in the last few years and concerted efforts been made by regulatory authorities to stabilise the market and return it to the path of sustainable growth.”

“We wish to reiterate the need for concerted and well focused regulatory initiatives that would speedily restore sanity, renew investors’ confidence, promote market stability, and return the stock market to the path of growth and development.

This year’s award, like in very recent years, were determined utilizing ten operational and stock performance indices namely –turnover growth, return on equity, earnings yield, share price appreciation, stock activity, dividend cover, dividend yield, net asset ratio, dividend growth, and profit margin ratio.

“As usual, in other to ensure fairness, objectivity and authenticity in its assessment, the research and collation sub-committee, sourced the required data from the annual reports of quoted companies duly filed with the Nigerian Stock Exchange, daily official lists and the Nigerian Stock Exchange weekly reports for the 52 weeks in the year under consideration. The report of the research and collation sub-committee was reviewed and endorsed by the board’s technical committee, which subsequently presented it to the full board for consideration and ratification,” Orekoya said.