The House of Representatives has disclosed that it will consider debating legislation to mandate multinationals in the oil and gas, and telecommunications sectors to list certain percentage of their value on the Nigerian Stock Exchange (NSE). The Speaker of the House of Representatives, Hon. Yakubu Dogara, speaking when he received members of the Nigeria-United Kingdom Capital Market Project on a courtesy visit in Abuja yesterday, said such legislation would help deepen the market. He lamented that multinational firms have refused to list on the NSE, noting that there is no justification for the refusal. “Apart from capital inflow being sought, the market needs to be deepened, as most of the big international companies in Nigeria are not participating in the Nigerian Stock exchange. This is sad because these companies account for a huge percentage of revenues in oil, communication and energy etc.,” Dogara also gave the assurance that the lower chamber would provide legislation into areas of value added partnership directed at wealth increase, wealth redistribution, employment generation and economic diversification. Speaking earlier, President Nigeria Stock Exchange, Mr. Aigboje Imoukhuede, said the aim of the Nigeria- UK Capital Market Project is to ensure the increase in capital flow between the capital markets for mutual development. Senior consultant on the project Dr. Isaac Ogbodu, said Nigeria is one of the most exciting markets to work with, with a study currently being done to improve market structure. In another development, members of the House of Representatives have called on President Muhammadu Buhari to declare an emergency in the labour sub-sector of the economy in view of the high rate of unemployment in the country, particularly among young Nigerians. The resolution was reached during plenary on yesterday, after a motion was moved by Hon. Kingsley Chinda (Rivers PDP) who also sought the convening of a national summit on unemployment. The resolution did not elicit much debate as members agreed it was a matter of urgent public importance. Chinda also prayed that the lower chamber direct the Committee on Labour and Productivity (when constituted) to request for and review the federal government’s blueprint on generation of 3,000,000 jobs per annum, analyse same and report back to it within four weeks for further legislative action, recalling that several young people lost their lives in a stampede where they had gathered to write tests for recruitment into the immigration service. Chinda noted that unemployment is a time bomb whose results can be disastrous for the nation if not death with. “If urgent steps and pragmatic steps are not taken to address this problem, the country would be at risk at a high risk of unrest and vices which could, in the long term lead to a breakdown of the social and economic order in the country to the detriment of livelihood pattern,” he said. The motion was unanimously passed following a voice vote. The House members also urged debtors to settle the N4 billion owed to the West Africa Examinations Council by the 19 states of the federation, after the examination body threatened to withhold the results of about 600,000 students whose state governments promised to settle their examination bills. Hon. Linus Okorie (Ebonyi PDP) raising the motion under matters of urgent public importance, recalled that the examination body had said its operations are being affected by the debt which was incurred by the states.