By Providence Obuh

Following over N1.03 trillion loss of investment in the Nigeria Stock Market in recent time occasioned by slow pace of governance, policy direction, high political risk, non ministerial appointment, among others, shareholders in this interview urge investors to exercise patience as market rebound is imminent.

Nigerian Stock Exchange

ALHAJI Gbadebo Olatokunbo, Shareholders Activist:

You cannot build a two story building on a ramshackle house, if you don’t have any other land which you can build a two story or beautiful building, what you do is to demolish that house and start from the scratch. Nigeria’s issue require starting from the scratch, there is no cause for us hurrying.

What ever is happening to the capital market now, is because the market is a long term thing. By the time we start getting it right, everything will skyrocket.

Nigeria was not recognized before, but now that we elected Buhari, everybody wants to reckon with him, not for politics and you know the whites don’t joke like we Nigerians.

They have been looking at Nigeria that this country that is supposed to show the light to other Africa nations, unfortunately have been having mediocre as leaders. In this country, if there is someone from your area or my area at the helms of affairs, even if I decided to attack him, my own people will come to me and say that man is our man just leave him alone.

I am a Yoruba man, Buhari is not. I want the best for this country. In the next 10 to 30 years some people will die but Nigeria will not die, there will be people around.

So whatever that is happening to the market for now, the market will regain its lost ground, it is only speculators that are worried because when the market is dull, the incentive to trade will not be there and they will not be making their own commission, that is why they are shouting. I am a long term investor and I cannot approach the market now that I want to sell my shares because I know that whatever is happening now is something that will come and go.

Those who are participating in the market are either investment managers, companies that have been rolling things over and making gains and now that they see the repercussion of their work they are shouting.

But I am appealing to them to wait, the market will bounce back by the time we start putting things in order in Nigeria.

Nigeria’s issue does not require rushing, those rushing Nigeria are deceiving us, they want the market to continue as usual, but it will never be the same again, I don’t believe Nigeria’s case should be business as usual, I believe we should start on a good clean slate.
The market will bounce back soon so they should exercise patience

Chief Shotunde Shopeju, Chairman Beacon Shareholders Association of Nigeria: At the moment the atmosphere is not conducive to bring out large chunk of money to buy shares in that shareholders are waiting to see what policies the government have in stock.

So it is not an appropriate time when such an amount would be brought for consideration. Investors should wait until the House of Senate and Representative come into action.