AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)

AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a dailly bases. it is an institution that has a prominent
role to play in the economic development of nigeria. The need to mobilize financial resources by government can not be over emphasized as the country
development need for outstripped Its revenue generation capacity. Experience in Nigerian has shown that revenue from taxation and statutory allocation
alone are not suicient
to finance the current and capital expenditure of most government of the federation. It is therefore imperative for them to look for
other sources of capital inflows to close their resources gaps.
As a matter of fact the need to finance growing budgets deficits from 1958 and the deteriorating balance of payment form the year 1950
Were some of the consideration for government support of the business community in setting up the lagos stock exchange in 1977 the stock exchange was
also inspired by government due to the understanding that a viable capital market could be relied upon to finance industrial development in particular and
nation economic growth in general on the other hand the money market represent the short-term end of the nation. Financial market comprising essentially
Short-term loans and obligations with maturely of about a year it is an institutional arrangement through which individuals and institution with temporary
surplus funds meets borrowers who have temporary funds shortages. The money market to manage liquidity. Therefore, one of the working capital needs of
companies and to provide government with short-term funds in lice of tax collection.
The capital market on the other hands is the section of the financial statement which provides medium of business and government. Reusing of funds in the
capital market makes the construction of factories, oice
building, highway, bridges and acquisition of machine possible an eicient
capital market they are
mobilizes the nations capital resources and allocate them for the overall growth of the economy. If capital resources are not provided to these economic
arrears, especially industries, where demand is growing and which are capable of increasing production and productivity the rate of expansion of the
economy will definitely sue