The Minister of State for Finance, Dr. Yerima Ngama, disclosed this in Abuja during the ministerial platform for the first year anniversary of President Goodluck Jonathan’s administration.
He said that the era of foreign companies coming to make huge profits in Nigeria without Nigerians benefiting from these profits would soon be over.
He said, “We are doing a lot to revive the capital market. We know that most of us who invested in the market have lost a lot not because these companies are not known yet. In fact, many of the intrinsic values of their shares are higher than their market value, but what is happening is that there is a loss of confidence by Nigerians.
“As it stands today, 81 per cent of all the trading that goes on at the NSE is done by foreign investors; Nigerians are having a lukewarm attitude because of what happened at the capital market before.”