By  NKIRUKA NNOROM

The Nigerian Stock Exchange, NSE, has included Dangote Sugar Refinery, Access Bank, First Bank of Nigeria, Union Bank Nigeria Plc and Nestle Nigeria Plc to the list of stocks that the newly inaugurated Market Makers can make market on.

Others that made the list include Academy Press; Custodian & Allied Insurance, AIICO Insurance Plc and National salt Company of Nigeria, NASCON.

This, in addition to initial 16 stocks the market making with on 18th September, has effectively brought the number of the stocks to a total of 25.

The market makers are expected to fully start trading on newly included stock today, 4th September, 2012, said Mr. Wole Tokede, Head, Media Relations, NSE, in a statement made available to Vanguard.

He explained that the development was in line with the promise made by The Exchange that all the stocks quoted on the Bourse that are trading above par value would be added to the Market Making list over a period of six months.

Speaking at the workshop that the Exchange organised on September 11, 2012 as a prelude to the take off of the programme, the Chief Executive Officer of The NSE, Mr Oscar Onyema assured all stakeholders that the introduction of market making would help drive liquidity in the marketplace to the benefit of retail investors, institutional investors, the Broker Dealer community as well as regulators.

He also said that it would improve the price discovery process, thereby reflecting the true value of companies.

Speaking further, he said, “I believe you will agree with me that the market is in for better times with the introduction of the Market Making, Securities Lending and Short Selling initiatives. Let us collectively give it all the support it needs, especially during the six month rollout period.”

The following are the 16 stocks the programme kicked off with on September 18, 2012: PZ Cussons Nigeria Plc, Nigerian Bag Manufacturing Company Plc, Presco Plc, International Breweries, Lafarge Wapco, Fidson Healthcare Plc, Redstar Express Plc, Zenith Bank Plc, Sterling Bank Plc, D.N.Meyer, Diamond Bank, FCMB, Fidelity Bank Plc, Nigerian Breweries Plc, Guaranty Trust Bank Plc and UAC Nigeria Plc. (UACN).