By Nkiruka Nnorom
The Nigerian Content Development and Monitoring Board (NCDMB) has called on stakeholders in the capital markets to work towards the listing of more companies in the upstream oil and gas sector as well as those that add value to the hydrocarbon resources in the country.
The Executive Secretary, NCDMB, Engr. Simbi Wabote made the call when the management of the board visited the NSE to perform the Closing Gong Ceremony in Lagos, saying that efforts should be made to list more refineries, petrochemical industries and fertilizer companies in the domestic market.
He noted that listing of more upstream oil and gas companies has become necessary because most of the companies listed under the oil and gas sector of the NSE are into marketing of petroleum products.
“ We will like to see more of the upstream and mid-stream companies listed on the exchange. More importantly, we will like to see a major shift in the listing of companies that add value to our hydrocarbon resources in-country such as refineries, petrochemical industries, fertilizer companies, and companies in the liquefied petroleum gas/compressed natural gas value chain,” he said.
Wabote commended the NSE for playing a vital role in the economy by serving as a means of wealth creation, wealth distribution, and source of long-term financing even as the businesses listed on the exchange use their products and services to meet the needs of Nigerians.