Uwaleke recommends listing of State-Owned Enterprises on NGX to fund development across Nigeria 

He made this known on Wednesday, February 26, 2025, while delivering Nasarawa State University’s 50th Inaugural Lecture, tagged “Unlocking Wealth and Leveraging Entrepreneurial Knowledge Ecosystems: Understanding Capital-Harnessing Essentials.”

Prof. Uwaleke currently serves as the Director of the Institute of Capital Market Studies at Nasarawa State University, Keffi.

Speaking at the event, he stated that while the Nigerian capital market has recorded remarkable improvements in the last decade, several challenges inhibit the realization of its potential.

“Only 10 out of 151 listed companies account for over 60% of equities market capitalization,” he stated.

“The Federal Government (FG) is therefore advised to sell stakes in state-owned enterprises through the Exchanges to raise funds for development,” he stated.

Regarding incentives, he emphasized that these could take various forms and have the potential to encourage more companies to seek quotation on the Exchange.

“The National Universities Commission (NUC) should rise to the occasion by regularly ranking universities in Nigeria to stimulate the interest of rating services,”he added.

He also called on the government to optimize the country’s capital market potential by encouraging investments in Real Estate Investment Trusts (REITs) to unlock capital for housing development, as well as develop a robust secondary mortgage market to improve access to affordable housing finance.

He maintained that unlocking Nigeria’s hidden wealth through the capital market is possible if stakeholders leverage the market’s potential to mobilize and allocate resources while growing the entrepreneurial knowledge ecosystem.

The Nigerian Exchange is a stock exchange that allows investors to trade and list securities.

The year’s equity activities reflected a strategic mix of public offerings, rights issues, and private placements, as companies raised capital to comply with regulatory mandates, address foreign exchange challenges, and fund strategic growth initiatives.