In an effort to increase the possibility of foreign investors coming into the country, the Nigerian government hopes it can get key sectors onto the Nigerian Stock Exchange. One of those sectors, the telecommunications industry, has sparked confidence in analysts, who say the move could bolster chances of multinationals seeing the country as a viable place to invest. “This is a smart move by the government because it means they are serious about getting the country's economy back on track and at the same time increasing the potential of foreign investors of coming into Nigeria,” said Lagos-based IT analyst Thomas Jones, a British national who has long advised companies on how to enter the West African country's market. President Goodluck Jonathan said at a press conference to the stock exchange on Monday that the government hopes these new efforts will increase potential investors interests in the country. “We are committed to vigorously pursuing those policies, which will have effect of strengthening the investment climate and engendering the requisite environment for Nigeria's effective engagement with the global economic community,” the president said. He continued, saying that the absence of the two of the leading sectors in the economy telecom and the upstream oil and gas, from the stock market has created a “disconnect between these sectors of the economy and those traded on the stock market, which makes international investors to be uncertain about investing in the Nigerian stock market.” BM
