The Nigerian Stock Exchange (NSE) may for the first time list a cultural festival on the exchange as organisers of Osun Osogbo Festival, an old-age cultural festival that has lasted for over 600 years, are planning to approach the capital market.
Consultant to the carnival, Ayo Olumoko told BusinessDay in Lagos that the idea to list was to expose the festival to more stakeholders to be part of.
According to him, this is on the basis that it is one of the festivals with global recognition that has been organised consistently over the years.
Another idea for approaching the exchange is to ensure that this pride and initiative of a community, which is tourism, is assisting Nigeria’s economy thrive so that government will not continue to depend on the oil.
He did not say whether the festival will be listed on the first or second tier of the market, but the intention was to create awareness of the festival among stakeholders.
“The Osun Osogbo Festival is not a man-made fes- tival. It is a cultural aspect of the people of Osogbo that is organised consistently,” he said, as he praised Nigerian Breweries for supporting the festival over the years.
DANIEL OBI
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