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 exchange denoted by NSE is a government establishment where stocks are traded on a daily 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 sufficient
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.