The Federal Government has been urged to prioritize awarding contracts to construction companies listed on the Nigerian Exchange Limited (NGX) to ensure a broader distribution of wealth among Nigerians.
This suggestion was made by the Chief Executive Officer of Nairametrics, Mr. Ugodre Obi-Chukwu, during a seminar organized by the Finance Correspondents Association of Nigeria (FICAN) in Lagos.
The seminar, themed “Outlook for the Nigerian Economy in 2025,” emphasized the importance of mandatory NGX listing for companies handling major infrastructure projects like the Lagos-Calabar Coastal Highway.
Unlocking Opportunities Through NGX Listings
Obi-Chukwu explained that listing infrastructure companies on NGX could serve as a catalyst for raising capital for critical projects.
He noted that such listings would not only enhance transparency and accountability but also create an opportunity for Nigerians to invest in these projects and benefit from shared wealth creation.
“For projects like the Lagos-Calabar Coastal Highway, companies involved should be listed on NGX. This approach will allow capital to flow across the country, promote transparency in project funding, and ensure wealth is distributed more equitably,” Obi-Chukwu remarked.
Boosting Wealth Distribution
The expert further highlighted that requiring companies executing government projects to be listed on NGX would enable Nigerians to earn dividends and partake in the nation’s economic progress.
He warned that relying on private companies without public involvement could lead to the concentration of wealth in the hands of a few.
“By listing these companies, we’ll see a shift in wealth distribution and economic growth. It opens up opportunities for ordinary Nigerians to share in the benefits of large-scale projects,” he added.
This call aligns with the broader need for transparency in government-backed projects, ensuring that citizens have a stake in Nigeria’s development initiatives.
Leave a Reply