Again, strong indications emerged yesterday that the Nigerian Exchange Limited will witness massive delisting of firms under the manufacturing, consumer goods and oil and gas sectors, as operators urged government to take urgent steps in tackling nation's macro economic woes.
It closed yesterday’s trading at N28.85 per share. The firm began the year with a share price of N20.85 NGN and has appreciated by 38.4 per cent, ranking it 17th on the NGX in terms of year-to-date performance. Head Equity, Planet Capital, Dr. Paul Uzum, said the prevailing weak economy, occasioned by instability in exchange rate, high inflation, high interest rate among others are impacting negatively on these firms operations, noting that the uncertainty of the business environment isAccording to him, these challenges discourage participation of foreigners in the market and make it hard for listed companies to raise equity capital.
According to him, majority of these challenges which hqve continued to impede the operations of these firms are beyond their control. Ahead of a major decision against Single-use Plastic Products in December, the International Air Transport Association has urged airlines, regulators, and other operators to start preparing for life without those cabin-essential items.