Chairman of Heirs Holdings and Transcorps Plc, Tony Elumelu, has praised Aliko Dangote, the President of Dangote Group, for his contributions to the growth of the Nigerian Stock Exchange, NSE.
Elumelu noted that Dangote is a strong promoter of local content development, as his company, Dangote Cement, controls a third of the NSE and was the biggest quoted company in West Africa.
According to him, Dangote Cement Plc had helped to deepen the market and the country’s economy.
He said Nigeria’s private sector has the potential to drive the country’s economy but regretted that only few state-owned privatised enterprises were so far listed on the Exchange.
He spoke during the weekend at a two-day stakeholders’ forum on realising the full potential of the Nigerian economy through proactive capital market legislation.
He presented a keynote paper entitled, ‘Deepening the capital market to include privatised and systematically important entities.