Nigerians Must Participate in Capital Market to Support Economic Development—Ahimie

By Aduragbemi Omiyale

The need for Nigerians to see the capital market as an avenue to support national economic development and also participate in the ownership and growth of productive enterprises has been emphasised by the president and chairman of the council of the Chartered Institute of Stockbrokers (CIS), Ms Fiona Ahmed Ahimie.

The stockbroker, at the launch of the Dangote Petroleum Refinery and Petrochemicals FZE initial public offering (IPO) on Monday in Lagos, also reaffirmed the institute’s commitment to strengthening Nigeria’s capital market and promoting wider participation in investment opportunities.

During her brief remarks at the event, which attracted the presence of the Governor of Lagos State, Mr Babajide Sanwo-Olu, she highlighted the significance of the transaction to Nigeria’s capital market. In the spirit of her message, she encouraged capital-market professionals to uphold the highest standards of competence, professionalism and investor guidance, while urging more Nigerians to see the capital market as an avenue to participate in the ownership and growth of productive enterprises.

She welcomed the sale of the refinery’s shares to members of the public, saying it would deepen the nation’s stock market.

Business Post reports that Dangote Refinery is selling about 4.1 billion equities at N525 per unit, targeting approximately N2.15 trillion, and providing retail and institutional investors an opportunity to acquire an ownership stake in one of Africa’s most significant industrial assets.

She said for CIS, the significance goes beyond the transaction itself, as major transactions of this magnitude reinforce the importance of competent, ethical and globally competitive professionals who can support investors, issuers and other market participants and strengthen confidence in the market.

Ms Ahimie said that under the leadership, the CIS remains committed to developing these professionals, promoting financial and investment literacy, and encouraging broader participation in Nigeria’s capital market