The Securities and Exchange Commission (SEC) has called on State-Owned Enterprises (SOEs) to list their securities on the Nigerian Exchange (NGX), aligning with President Bola Tinubu’s “Renewed Hope” agenda. The agenda focuses on promoting economic inclusiveness, democratizing business ownership, and creating wealth for Nigerians.
In a statement issued on Thursday, SEC’s Director General, Dr. Emomotimi Agama, highlighted the significance of SOEs listing their securities on the NGX as a strategy to foster a more inclusive and democratized business environment. Dr. Agama explained that by offering public ownership stakes in state enterprises, the Nigerian government could not only expand the pool of shareholders but also ensure collective responsibility in the growth and development of key industries.
“Listing State-Owned Enterprises on the NGX would open the door for more Nigerians to participate in the ownership of these businesses. This inclusivity is vital for wealth distribution and shared economic progress,” Dr. Agama said.
Dr. Agama emphasized that expanding the participation of the public in SOEs would democratize business operations, spreading ownership to individual and institutional investors across the country. “When we speak of inclusivity, we speak of ownership,” he stated. “In this shared responsibility, we all contribute to the building of industries and, ultimately, the nation.”
The move is seen as a crucial step toward deepening public participation in Nigeria’s capital markets and empowering citizens to take part in wealth creation by investing in government-owned enterprises. The initiative also supports the broader goal of enhancing transparency, accountability, and corporate governance within SOEs, ensuring their growth and sustainable development.
As Nigeria continues to implement economic reforms aimed at driving growth and inclusiveness, the SEC’s call for SOE listings on the NGX aligns with the government’s vision of an economy where wealth and business ownership are shared by the masses. This initiative is expected to bolster capital market growth, attract investments, and enhance economic diversification in the country.
