The Security Exchange Commission, (SEC) has said that Nigeria’s capital market capitalisation as an aggregation of the value of companies, has increased to over N55 trillion despite the discrepancies between the Naira and the American dollars.
The director general of the commission, Lamido Yuguda made the disclosure at the opening ceremony of the 45th Kaduna International Trade Fair, stressing that the market capitalisation is always increasing.
The DG who was represented by the head of North-West Zonal Office of SEC, Mallam Danladi Muhammed, said the increasing revenue generated by the Nigerian companies, show that it has built a more robust economy that had restored confidence both in the Nigeria companies and her people.
He further disclosed that the Commission received invitation from the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA) organisers of the trade fair to participate in the 45th Kaduna international Trade Fair, a relationship he described as partnership in progress that is inline with their mandate of capital market development.
He said, “Our market capitalisation, which is an aggregation of the value of companies of Nigeria, is always increasing.”
It has crossed over N55 trillion in the last few weeks. The company is increasing and this shows that people are having increasing confidence in the Nigerian companies and in the Nigeria people.
“Our presence here is in response to the invitation by the Kaduna Chamber of Commerce, Industry Mines and Agriculture, inviting the commission to come and participate in the 45th Kaduna international trade fair. We see the partnership between Kaduna Chamber of Commerce and Security and Exchange Commission as a partnership of progress and participating in trade fair activities is part of our mandate because the Commission has one of the key mandates of market development”.
He said, at the market development, it is seen as an opportunity to interact with stakeholders like investors, corporate entities and even representatives of the government.
The DG also reiterated that the Commission offers a lot of opportunities to investors in the capital market to expand their businesses, secure their future and live a better life while urging Nigerians to take advantage of the process for their business expansion.
“For us we see our participation in the ten days duration of the trade fair as an opportunity to interact with Nigerians and in fact with international visitors and all participants and what we are trying to do is to interact with people and let them know the advantage that is there for them in the capital market which the SEC is regulating on behalf of the federal government of Nigeria.
“The opportunity that the market offers is for investors to have something that can better their life. You can invest in the capital market in companies that are registered by the commission and then you stand to gain dividends and ownerships of shares in the company which can be used to secure your future.
“For the companies, we see that the capital market gives them the opportunities to raise funds for their business expansion and the funds that they can attracted for the market is called advertently lower cost and they can use it for business Financial plan because you can get money in the Capital market that can last for 10 and upward of 20 years.
“This gives the companies opportunity for longtime planning in their business activities and for the government both federal, state and local governments can access the capital market. What we find in the capital market that can benefit the government is funds for infrastructural development” he added.
