In future, people can buy NNPC shares in NSE
In the near future, NNPC shares could be traded on the Nigerian Stock Exchange. Read from the GMD of NNPC:
“The shareholders can decide, as the law provides that over time, they can reduce the shareholding into some private shareholding. That means it can be floated subsequently as a company that is quoted on the stock exchange.
“The intention at the very onset is not to go to that step but there is provision in the law that allows us ultimately to sell shares of this company.”
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“This is very simple. This company will pay taxes and royalties, which are revenues that accrue to the federation. So every part of this country and every subnational institution or government will benefit from it.
“Secondly, this company will pay company income tax that also comes to the federation for the benefit of all. So, what is different is that this company will now have profit to make and declare dividend, which will be decided by the board of directors of this company,” he said.
The problem is that in that near future people may be sending their money abroad to buy more sensible long term shares!
Why would I invest in NNPC when the big goons are divesting? How does NNPC sell themselves to me? Oh! We made a profit of so and so. Well, yes you did, but why just now? Why have you not been hitting the mark since?
See, I don’t have funds to invest but none of my coursemates here see a future in any Nigeria firm. They all listen to one Fisayo- the YouTube guy, and they are moving their money(s) off the shores. And please don’t blame them.
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