Capital Market and the Nigerian Economy

Abstract

Most developing nations use its capital market to boost its economy as it helps the economy grow. The Nigerian capital market has its key instruments established in 1959 when measures to operationally it started. The Nigerian Securities and Exchange Commission is the Apex regulatory authority of the capital market and the Nigerian Stock Exchange is the body organizing Security dealers and brokers. However, we shall endeavor to critically examine the capital market and its effect in the Nigerian Economy through the NSEC, NSE and these stock broking firms. Initially, when the Capital Market was established in Nigeria the activities of which they were involved was hardly known, people were not investing, some did not even known about its existence. But in recent years, the Capital Markets has been experiencing a continuous tremendous growth and however increasing the overall Gross Domestic Product over the Years. The Nigerian Capital Market has so many tasks ahead of them because of the present education people have about it thereby increasing investors. Provisions will have to be made so as to increase the Capital Market, Monitor the activities of NSE, NSEC, and the Stock braking firms. This is because the more people learn about the capital market and the returns as regards investing there, the more they would want to invest in the capital market. Conclusively, the importance and significance of the capital market-in Nigeria cannot be over-emphasized. This is because in recent years, the Nigerian Capital Market has continued to experience an increase in its turnover there by providing employment, occupation, job satisfaction, growth in companies, amongst so many others and finally, helping Nigeria grow.