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Elumelu, Rewane commend Dangote for sustaining stock market

He said Dangote’s cement has helped to deepen the market and the Nigerian economy.  
Aliko Dangote

Aliko Dangote

Chairman, Heirs Holdings, Mr. Tony Elumelu and Chief Executive of Financial Derivatives Company Limited, Mr. Bismark Rewane have commended the President of Dangote Group, Aliko Dangote for his contributions towards the growth of the Nigerian Stock Exchange (NSE).

Elumelu, who is also the Chairman of Transcorp Hillton, spoke at a two-day stakeholders’ forum on: Realizing the Full Potentials of the Nigerian Economy

Through Proactive Capital Market Legislation.

He said Dangote’s cement has helped to deepen the market and the Nigerian economy.

According to him, the private sector has the most capital to drive the country’s economy.

Elumelu, who presented a keynote paper titled: ‘Deepening the capital market to include privatised and systematically important entities,’ regretted that only few state-owned privatized enterprises were so far listed on the stock market.

He said the government must focus on providing the enabling environment for businesses to thrive.

Also speaking, Rewane who presented a paper titled: The Nigerian Capital Market: ‘Becoming Africa’s Most Modern, Efficient and Internationally Competitive by 2025’ said if Dangote cement were to be discounted from the Nigerian stock market, the market would have been in trouble.

He said there was need to ask questions about what went wrong despite all the economic measures put in place by successive governments.

He concluded that the Nigerian economy was lacking in investors’ confidence.

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