FG Should Restrict Contracts To Firms Listed On NGX — Expert

FG Should Restrict Contracts To Firms Listed On NGX — Expert

The Federal Government should award contracts exclusively to construction companies listed on the Nigerian Exchange Limited (NGX) to promote broader wealth distribution among Nigerians, an expert has advised…READ MORE…

Chief Executive Officer of Nairametrics, Mr. Ugodre Obi-Chukwu, emphasized the need for mandatory listing of companies handling major infrastructure projects, such as the Lagos-Calabar Coastal Highway, on NGX.

Speaking at a seminar organized by the Finance Correspondents Association of Nigeria (FICAN) in Lagos, themed “Outlook for the Nigerian Economy in 2025,” Obi-Chukwu explained that listing such companies on NGX would enhance capital formation for critical infrastructure while allowing more Nigerians to share in the nation’s economic growth.

He said, “Requiring companies executing government projects, like the Lagos-Calabar Coastal Highway, to list on NGX would unlock new funding sources and enable citizens to invest and benefit from these projects. This would also improve transparency and accountability in project financing and execution.”

Obi-Chukwu further noted that public listing of these companies would distribute wealth more equitably, enabling Nigerians to earn dividends and partake in the economic benefits generated by infrastructure development.

“Allowing private companies to execute large-scale projects without public involvement concentrates wealth in the hands of a few,” he added. “Listing them on NGX would democratize wealth and foster a more inclusive economic growth model.”

He concluded by asserting that such measures could transform Nigeria’s economy and ensure that wealth flows more evenly across the country.

For More Information And News Update, Join Ireporteronline WhatsApp Channel With Link Below: https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32 For advertisement inquiries only, kindly send a message to 09010649814 on Whatsapp