FG should limit contracts to firms listed on NGX — Expert

Mr. Ugodre Obi-Chukwu, CEO of Nairametrics, has called for the Nigerian government to award construction contracts only to firms listed on the Nigerian Exchange Limited (NGX). He argues that this policy would promote wealth distribution and enhance capital formation for infrastructure projects such as the Lagos-Calabar Coastal Highway.

Speaking at a seminar in Lagos, Obi-Chukwu emphasized that listing infrastructure companies on NGX would provide a new funding avenue for projects, allowing public investment and participation in national wealth creation. This move, according to him, would ensure greater transparency and accountability in the execution of major infrastructure projects.

Obi-Chukwu also highlighted the benefits of public involvement, stating that by opening these companies to the stock market, wealth would be more widely distributed across the country, addressing concerns over the concentration of wealth among a few private entities.

Source: Vanguard