A Review of the Nigerian Energy Industry

NSE offers oil, telecom, power firms incentives for listing

20 February 2012, Sweetcrude, LAGOS – Mr. Oscar Onyema, chief executive officer of the Nigerian Stock Exchange (NSE), says special incentives and benefits await oil, power and telecommunications companies willing to get listed on the Exchange.
Onyema made this known at the Capital Market Solicitors Association (CSMA) members’ forum in Lagos.

He stated that as part of moves to attract such firms, the listing requirements of the Exchange has already been reviewed while the incentives to encourage the companies were also being worked out.

Discussions were on between the exchange and indigenous oil and gas companies, he said, adding, “This group of companies, was particularly vocal in calling for a change to our listing requirements. Their feedback had been taken on board in the new listing requirements and we believe that the prospects for indigenous upstream companies to list are now higher.”

For companies in the power sector, he said, discussions was on with the Bureau for Public Enterprises (BPE), the firm in charge of the privatisation of the power distribution and generation companies, to ensure that their Share Purchase Agreements included clauses for them to list on the Exchange.

The exchange had also began parley with telecommunications companies for their listing, He also announced.

Chairman of the House of Representatives Committee on Capital Market and Institutions, Mr. Herman Hembe, had last week disclosed that the law that would encourage these companies to list on the exchange would be ready this year.

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