How We Want to Use Digital Revolution to Transform Nigeria’s Economy-Onyema

The CEO of the Nigerian Stock Exchange(NSE),Oscar Onyema has disclosed that the NSE
is working on using the opportunities offered by digital revolution to transform the nation’s capital market.

He said the aims of the move was to open more access to the capital for millions of Nigerians as well as
avail more efficiencies and profits by way of product development and services etc.

Onyema who was speaking on the occasion of the 4th edition of the yearly CEO Roundtable which held recently at the NSE Head-Office in Lagos organised with Bloomsberg Media said” to capitalize on the opportunities presented by the Fourth Industrial
Revolution, The Exchange is investigating the market potential of key emerging technologies.

“In order to deploy solutions which will: (i) empower a
larger proportion of the populace to access the capital market; and (ii) unlock
efficiencies in product and service delivery for capital market operators”.

He posited that a recurring theme in previous editions of the CEO Roundtable has been the dependence of the
Nigerian economy on a singular commodity, the inability to extract value
across supply and value chains as well as unfavourable business conditions to
create a diversified economy.

And pointed out that it was vital ” to note that ideas generated in
the past editions have provided The Exchange with more insights in carrying
out its advocacy efforts with policy makers, and some of these ideas have been
implemented and have gone ahead to spur a rebound of the economy.

The CEO hoped that this year’s edition of the CEO Roundtable could even be more useful as it is more
forward looking, as it is designed not only to discuss frameworks for economic turnaround, but
explore how to position the Nigerian economy for sustained growth.

In his view” Today,most of the world’s developed economies have begun to adapt to the Fourth
Industrial Revolution, which has integrated digital, physical and even biological
technologies, with clear impacts on unlocking latent economic value, with far reaching
effects that have led to disruption of certain industries and creation
of new ones. The opportunity the Fourth Industrial Revolution presents is
unlike any other, as the barriers to entry are low, with an upside that is vast
and yet to be quantified.
“At the Exchange, we consider ourselves to be a forward-thinking securities
exchange, and have since begun the advancement of our offerings with the
assistance of technology. In 2013, we launched X-Gen, our next generation
trading platform and catalyst for boosting trading in Africa. On the back of this,
we introduced TradeSmart, a mobile trading technology that enables investors
to conveniently buy, sell and monitor their investments”