The NASD OTC has outlined its expectations as the new APC government-led by Muhammadu Buhari assumes office at the presidency.
“As the new APC-led government handles the mace of governance in Nigeria on May 29, 2015, we at NASD look forward to some change in areas that will create new vibrancy in the economy,” the firm says in a statement.
“We expect a change in the perception of Nigeria as a difficult place to do business (current World Bank ranking puts Nigeria at 170th out of 189 on the ease of doing business chart). A positive change in this direction will encourage confidence in the economy, an inflow of critically needed long-term investments and increased private equity activity,” according to the statement
NASD held the first OTC private equity conference in anticipation of this and says it expects to see more activity on the secondary side of the Private Equity industry in the future.
On power generation and distribution, NASD says it expects the new government to focus on creating a level field for power generation and in turn the development of a self-sustaining industry.
“A first step in this direction is making capital available to the brave entrepreneurs in the industry. NASD is positioned to assist companies, particularly those in the power sector raise capital in order to meet their overarching objectives,” NASD says.
NASD says it also expects significant public accountability and integrity in governance from the new administration and expects that this will boost trust in Nigeria’s policy making process and encourage better reporting and accountability, even in the private sector.
“NASD’s objective is to encourage transparency in the capital market – we therefore hope the incoming administration will strengthen structures that will support the creation of transparency and liquidity,” the firm says.
PATRICK ATUANYA
