Pension reform bridges gap for infrastructure financing – PenCom

Chineo Anohu-Ama- zu, director-general, National Pension Commission (Pen- Com), says the country’s in- frastructure financing gap has been significantly reduced with the coming in place of the Pension Reform Act 2014.

PenCom has persistently pursued strategic reform for the pensions industry in Nigeria, and with the Pension Reform Act PRA 2014 challenges of access- ing long-term financing for infrastructural development in the country is significantly reduced, she said.

Anohu-Amazu made the remark at an investors’ road show organised by the Nige- rian Stock Exchange (NSE) held at the London Stock Exchange Group (LSEG) as part of the drive to promote dual listing and showcasing the potential of quoted com- panies on the NSE to global markets.

The director-general, who has relentlessly pur- sued strategic alliances that are aimed at shoring up Foreign Direct Investment (FDI) in Nigeria, was part of a team of regulators, corpo- rate finance experts, lawyers, capital market operators and companies led by the CEO of the Nigerian Stock Exchange, Oscar Onyema, on the visit.

Onyema said: “It is an opportunity for engage- ment between the UK and Nigerian capital markets with a view to deepening domestic and regional mar- kets, enhancing liquidity and identifying institutional and capacity building initia- tives needed to develop both markets and create long- term value for respective stakeholders.”

The plan to get local firms to list both on the NSE and LSE is part of our strategy of transforming Nigeria into an international financial centre that serves not only the Africa region but also the global market, he said.

Xavier Rolet, CEO of the London Stock Exchange Group (LSEG), said the event was a reflection of the global investment com- munity’s strong desire to be a part of the Nigeria story via the increasingly strong partnership being forged be- tween Nigeria and London.

“As the world’s most in- ternational exchange, LSEG looks forward to building on the success of existing dual listings in Nigeria and London, and partnering with the NSE to showcase developments in Nigeria’s economy and capital mar- kets,” Rolet said.