According to the Chief Executive of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, the federal government N2.2 trillion budget deficits could be effectively financed through the instruments in the capital market.
While measuring the performance of the stock market in 2015 and making projections for 2016,he mentions “The capital market has an opportunity to effectively finance the FGN’s proposed budget deficit for 2016 and the implementation of its Medium Term Expenditure Framework (MTEF).”
To aid the country’s ailing economy, the NSE will focus on executing its strategy in order to continue to provide a credible platform for financing the economy.
Talking about the NSE plans, he stated “To this end, we intend to intensify engagement efforts with the federal government. We have also prioritized three initiatives for 2016 aimed at achieving the Exchange’s three strategic objectives of increasing the number of new listings across five asset classes; increasing order flow in the five asset classes; and operating a fair and orderly market based on just and equitable principles”.
Talking on the plans for the year, he commented that the NSE would ensure that state-owned enterprises that are supposed to be listed are brought to the market to unlock liquidity for the government.