Democracy: Financial experts seek tax incentives to boost listing on NSE

Some financial experts on Monday called on the Federal Government to introduce tax incentives that would aid listing of blue chips on Nigerian Stock Exchange (NSE).

They told the News Agency of Nigeria (NAN) in Lagos, while assessing the administration’s second anniversary, that the incentives should be considered to deepen the market.

Prof. Sheriffdeen Tella , professor of economics, Olabisi Onabanjo University Ago-Iwoye, Ogun, said that introduction of tax incentives would make blue chip companies such as telecommunication firms to enlist on the exchange.

Tella said that the stock market had lost ground in the last two years and needed to be resuscitated through good policies to boost investor confidence.

“With respect to development in the capital market, particularly the stock market, the market has lost ground in the last two years.

“However, this has been the case since the world depression of the 2007/2008 when lots of foreign and local investors lost trillions of naira in investments,” he stated.

He said that Nigerians were largely risk averse and were interested in making quick money.

Tella added that investors were borrowing to invest when the market was booming in the market that should ordinarily attract idle funds.