Nigeria’s equities market yielded to sell pressure and closed negative (-0.01 percent) on Thursday as investors failed to take advantage of the record price dip in some of these counters. Investors booked about N4billion loss at the close of trading session on Thursday.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) decreased from 47,109.25 points to 47,102.64 points.
The value of listed stocks also decreased to N25.385trilion from preceding day high of
N25.389trillion.
The stock market’s positive return year-to-date (YtD) decreased to 10.27percent.
In 4,251 deals, investors exchanged 357,764,363 shares valued at N6.482billion.
The Securities and Exchange Commission (SEC) has again stated that it is committed to sound and proper regulation that would engender growth and development in the capital market.
Director General of the Securities and Exchange Commission, Lamido Yuguda stated this at a meeting with market stakeholders organised by the Debt Management Office (DMO) in Lagos, Thursday.
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Yuguda assured stakeholders that the current Management of the SEC is working to refocus the Commission to efficiently carry out its regulatory responsibilities.
He said, “You will see a more focused SEC in terms of the regulator readiness, in terms of what the regulator should do to ensure good conduct and development of the market in all its ramifications .
“We are committed to working together with all to develop an agenda that will strengthen the Nigerian capital market and prepare it to assume the very important role of financing the massive infrastructure deficit that our country today has”.
In her remarks, Director General of the Debt Management Office, Patience Oniha said debt is a very topical issue in the country hence the need to regularly meet with critical stakeholders to address some grey areas and be on the same page for the growth of the nation’s economy.
Oniha said government borrows to finance the budget, to finance specific projects as well as refinance maturing debts obligations among others.
According to her, “borrowing enables the success of implementation of the budget, we borrow to finance projects like the on-going rail projects among other projects”.
Oniha therefore commended critical stakeholders for their roles in helping the Federal Government develop the market.
