Chief Executive Officer of Nigeria Stock Exchange: Has a Soothing Enticement in the Oil and Gas Sector

By Abdul Rahman Bangura–

NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The Chief Executive Officer of Nigerian Stock Exchange (NSE) – Oscar Onyema has asserted that, domestic investors are placid inclined to influence the Oil and Gas Sector. Nonetheless, Onyema pointed out that, the sector would proceed to tolerate outward tension throughout 2020 due to the Novel Coronavirus (COVID- 19) pandemic.

The NSE Chief – Onyema enunciate at the Seplat Energy Summit 2020 with the theme: “Business Sustainability and Strategic Leadership in Africa,” where symposia were held on contributing useful understandings on the demanding circumstances on the function of energy systems by way of building a tolerable African economies. The first occurrence wielded basically on July 30th, 2020 had in attendance government officials, top and self regulatory organizations, capital market operators, investment bankers, policy makers, chief executive officers (CEOs), economists, researchers, analysts, academics, and private equity firms.

In addition, Oscar Onyema clarified that, the universal tempo of development and the passion of the trade adversities between the US and China would proceed to be a determine facets for enterprises. Erstwhile Director General – Arunna Oteh of Securities and Exchange Commission (SEC) – Arunma Oteh, raised a question on how to finance the Energy Sector in the African continent, energy companies to rigorously optimize their cash flow by strict cost cutting, but also rationalization investment portfolio. “They should try and divest non-performing assets, optimize investments in merge and acquisitions and explore other financial structures,” Oteh let out. Roger Brown, incoming CEO of Seplat, noted Africa as a continent required to build a base load for which it can build from and drive its gas agenda, which Nigeria can lead through renewable energy.

Relating probability from government, that will allow Nigeria play a prominent role, Brown stated the government should subsidize oil firms through partnerships in joint venture agreement, better support in striving marketings and endorsements and obvious legislature.

For New Africa Daily News Abdul Rahman Bangura Reports,  Africa Correspondent

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