By Providence Obuh
Chairman, Juli Pharmaceutical Plc, Prince Julius Adeluyi, has urged the Nigerian Stock Exchange NSE to give relevance to Nigerian indigenous company.
Speaking during the company’s 25th anniversary as a quoted company on NSE, Adeluyi said stakeholders on the stock exchange must go extra miles to understand the challenges of indigenous promoted companies.
He explained that any nation with Stock Exchange will make progress with the participation of indigenous company, saying “If NSE is going to enjoy relevance, consolidation, stability, better prospect; it needs participation and cooperation of indigenous entrepreneurship.”
He pointed that out of over 150 million population of the country, five million people are patronizing the NSE; only 230 thousand people are active in core activity.
Lamenting the poor patronage of the Nigerian stock market, he urged operators and other bodied responsible to the NSE saying “we need your advocacy for people to know about the stock exchange.”
He stated that the stock exchange is not stock exchange until it reached out to those people who are out there and ignorant about the stock market.
Speaking on the 25 years so far on the NSE, he said Juli Pharmaceutical Plc is set to make the exchange an indigenous company for others to emulate, hoping that by few years to come 100 indigenous companies would have been listed on NSE.
He noted that over the years the company has suffered and endured the good and bad times of the market stating that it has been 25 years tested dreams and largely unrealized expectations.
“It has been 25 years of sacrifice to make sure indigenous promoted company navigate institutions like stock exchange.”
However, he lamented that stakeholders who have suffered with NSE were not represented at the just concluded 50th anniversary of regulating the Nigerian capital market by the Securities and Exchange Commission (SEC).