MTN Nigeria on May 16, 2019, listed by introduction, 20.35 billion ordinary shares at N90 per share, lifting the market capitalisation by N1.83 trillion. Therefore, they suggested that the federal government should revive the businesses of listed companies, encourage local investors by reviewing tax on transactions and injecting liquidity into the stock market. “The few public issues were by way of rights thus indicating that issuers’ confidence in the equities market is still very low. For the Publicity Secretary of the Independence Shareholders Association of Nigeria, Moses Igbrude, the stock market performance was neither here or there. FG policies instability, insecurity, Port congestion multiple taxation, infrastructural deficiency forex instability are factors impeding the growth of the market,” he said.

Source: The Guardian January 01, 2020 03:56 UTC