THE IMPACT OF CAPITAL MARKET ON THE NIGERIAN ECONOMY WITH EMPHASIS ON THE ROLE OF THE NIGERIAN STOCK EXCHANGE

THE IMPACT OF CAPITAL MARKET ON THE NIGERIAN ECONOMY WITH EMPHASIS ON THE ROLE OF THE NIGERIAN STOCK EXCHANGE

 

ABSTRACT

The researcher’s mind on the topic, “The impact of the Capital market on the Nigerian Economy with emphasis on the role of the Nigerian Stock Exchange” was captured when a similar topic was discussed at a seminar organized by the Bureau for Public Enterprise (BPE) to conscientize and sensitize Nigerian people to accept the privatization programme.  The organizers sought to expose how highly underutilized the Nigerian Stock market is and what individuals and Corporations would gain in patronizing the market. They also compared the operations and volume of transactions with other emerging stock markets in the world. The research work is basically, all about assessing the extent of the impact of the capital market on the socio-economic development of this country and an in-depth search into ways of improving upon the operations of the Nigerian Stock Exchange. In his findings, the researcher noted (among other things) that there was under utilization of the Stock Exchange market due to poor enlightenment campaign, and lack of transparency and accountability on the part of the operators of the market. In the conclusion, the researcher admitted that the future prospects of the exchange market is still bright but emphasized that the operators of the market must engender accountability and transparency as this will go a long way to re-installing much desired confidence in the investing public and guarantee the market’s future development.