By Adedapo Adesanya

Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed, has rated the performance of the Nigerian Stock Exchange (NSE) low, saying it is not optimistically feasible and under-performing.

Mrs Ahmed said this during the 2020 National Budget defence on Thursday, October 24, before the Senate Committee on Finance at the National Assembly at the nation’s capital, Abuja.

According to her, both the nation’s money and capital markets have not been in their best, with the latter not been able to provide a vibrant mainstay for the weak Nigerian economy.

“The [Nigerian] stock market, to my mind, personally, is shallow and we are looking at how to deepen it,” Mrs Ahmed told the Senate Committee during the budget defence.

She made this comment while answering a question asked by Senator Kasim Shettima as to why the capital market didn’t step up to absorb the effects of Nigeria going into a recession in 2016.

The Finance minister also said that a larger percentage of investments in the nation’s capital market are done by foreign investors which meant that these expatriate investors holding a higher share of the market was not healthy for the country.

While looking at ways to turn around the NSE’s under-performance, Mrs Ahmed recommended an amendment to the Pension Act to enable government invest the enormous pension funds in the markets as well as in the development of infrastructural facilities.

She added that federal government was working together with capital markets operators to mobilise domestic investors in the capital market.

Business Post reports that in late 2018, President Muhammadu Buhari signed into law the bill to demutualise the stock exchange.

The Ministry of Finance, Budget and National Planning proposed a total of N3.8 billion for its 2020 operations.

https://businesspost.ng/economy/nigerian-stock-market-lacks-depth-finance-minister/

Eziokwu bu ndu

The Presidency will refute it soon or sack her .

When companies under report profit, or simply manipulate stock.. who would be stupid to keep investing on stock when treasury bills offers gurranteed income



..

Still am commenting for the 3rd time. Lai will say is deeper than ocean without knowing what she meant .

Pls guyz, which tread should I display my stupidity......
I get am plenty o

Ok

iammo:




When companies under report profit, or simply manipulate stock.. who would be stupid to keep investing on stock when treasury bills offers gurranteed income



..

Your head is there, our capital market is too shady

Amstupid:
Pls guyz, which tread should I display my stupidity......
I get am plenty o

Display am for any APC tread,it would be meaningful,thank me later.

Her kind of Personality reeks of less pressure . This woman is just..

The whole country too lacks depth

The Capital market is a reflection of what Nigeria is...shady deals, manipulations, underhand tactics, lack of transparency etc
So obviously most Nigerians don't have confidence in the capital market

Truth is bitter.

The bitter truth! But what are you doing about it, Mrs Minister?

The foreign investors should be forced to divest their capital to other sectors if the economy.But I gez, they feel more safer in the capital market.

Says the borrower finance minister. She has borrowed right into the next three generations.

When they are confused, they start using catchy irrelevant words and grammar.


Tm

I gave up on Igbo presidency the day DR. CHRIS NGIGE lost senatorial election, it was very clear then that he's the next senate speaker if he wins but his kinsmen voted him out of the position. So if any igbo still contest for presidency, he'll be voted out by his people

Make them no carry all our pension money and throw into capital market. They should first clean it up to be more transparent and then it will attract investors all around by itself.

Thank God for the law that does not permit them to deep hand in to peoples hard earned pensions.

Honestly, me I don't even understand this woman. I just thank God they don't have access to collect money from our bank account. Well even if they do, money no even dey there sef.

Treat that keloid the natural way today contact me on zero 8 zero six 2 five 1 one 6 one 0 for your permanent natural solution

otokx:
Thank God for the law that does not permit them to deep hand in to peoples hard earned pensions.

They are above the law

dipoolowoo:
By Adedapo Adesanya

She made this comment while answering a question asked by Senator Kasim Shettima as to why the capital market didn’t step up to absorb the effects of Nigeria going into a recession in 2016. /

These people are a big joke. You want to blame capital market for not taking action to stop the recession?

Factors that cause a recession include high interest rates, reduced consumer confidence, and reduced real wages. Effects of a recession include a slump in the stock market, an increase in unemployment, and increases in the national debt.

1. Nigerian banks give loans are very high interest rates. Government is not doing anything to reduce the interest rates to single digits.
2. Many states could not pay salaries, some paid half salaries which reduced real wages
3. Dollar to Naira exchange increase without increase in workers salaries, which also meant reduced real wages.

What did the government do? Which policies did the government put in place? None. Instead government decided to increase tax and imposed additional taxes, which in turn reduced the real wages of workers.

The question by shettima is very dumb.
The stock market reflects the economy not the other way round
Dumbos in question and answer session

Sharrap!

Are you not the ones who have refused to allow Banks and PFA's to deploy funds in more creative ways?

Are you not the ones sterilising large amounts of capital from circulation...

I will throw my money into a big deep well than throw it into that deep shit called Nigeria stock market.

chloride6:
Sharrap!

Are you not the ones who have refused to allow Banks and PFA's to deploy funds in more creative ways?

Are you not the ones sterilising large amounts of capital from circulation...

Theory full your head with this mhmm statement.

iammo:




When companies under report profit, or simply manipulate stock.. who would be stupid to keep investing on stock when treasury bills offers gurranteed income



..

There was a time I was doing everything possible to invest in stock market, thank God all my efforts was frustrated. The worst part of it was that I wanted to invest in shares of one useless company. Sorry would have been my surname.

lol intercontinental bank did people like film trick

Solsix:

There was a time I was doing everything possible to invest in stock market, thank God all my efforts was frustrated. The worst part of it was that I wanted to invest in AIT shares. Sorry would have been my surname.

seguntijan:
I gave up on Igbo presidency the day DR. CHRIS NGIGE lost senatorial election, it was very clear then that he's the next senate speaker if he wins but his kinsmen voted him out of the position. So if any igbo still contest for presidency, he'll be voted out by his people

where this one come from?