THE ROLE OF THE STOCK EXCHANGE MARKET IN THE ECONOMY

Abstract:

This study explores the critical role played by the Nigerian Stock Exchange Market (NSEM) in the economic development of Nigeria. Positioned as a central component of the capital market, the stock exchange is essential for mobilising long-term capital for investment and fostering financial growth. While the NSEM is designed to stimulate economic development through efficient trading of securities and capital mobilisation, its growth has been constrained by persistent challenges such as low public participation, inadequate infrastructure, market price inflation, limited securities, and corruption. The study relies solely on secondary data sourced from published materials and institutional reports. Through a comprehensive literature review, the research examines the structural composition, objectives, and operational methods of the stock exchange. Findings reveal both the transformative roles of the NSEM, such as enabling small and medium enterprises (SMEs) to access capital, and its limitations in terms of investor awareness, technological inefficiencies, and ethical compliance. The paper concludes by recommending improved regulation, broader financial literacy, technological upgrades, and stronger oversight mechanisms to enhance the credibility and performance of the NSEM. These measures, if implemented, are expected to restore public trust and position the Nigerian stock exchange as a reliable engine for economic advancement.

Research Keywords:
stock exchange, Nigerian economy, capital market, financial development, securities trading, market regulation, investment mobilisation

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CHAPTER ONE

INTRODUCTION  

1.1 Background of the study

1.2 Statement of the problem

1.3 Objective of the study

1.4 Significance of the study

1.5 Scope   and limitation of the study

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1 Background to the establishment of the study  

2.2 Stock exchange market (SEM)

2.3 Structure of the stock exchange market

2.4 The objectives function/role of the stock exchange market

2.5 System of operation in the exchange

2.6 Listing requirement in the exchange

2.7 Problems of the stock exchange market

2.8 Internationalizing the Nigeria stock exchange.

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY

3.1 Sources of data (secondary data)

3.2 Location of data

3.3 Methods f investigation

CHAPTER FOUR

FINDINGS

CHAPTER FIVE

RECOMMENDATIONS AND CONCLUSION

5.1 Recommendation

5.2 Conclusion

Bibliography

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