THE IMPACT OF STOCK EXCHANGE MARKET ON INDUSTRIAL SECTOR IN NIGERIA ACT OF EFFECTIVE TAX ADMINISTRATION ON NIGERIA ECONOMY
The project topic ‘THE IMPACT OF STOCK IN NIGERIAN EXCHANGE MARKET ON INDUSTRIAL SECTOR. In this course of this research work, the researcher hopes to inclined to recommend that the Impact of Stock Exchange market on Industrial Sector has already stipulated an expected interest and entiusiasion in Nigeria. The result will increase job satisfactory productivity and other benefits to industrial sector.
Nigeria like must other developing countries often thinks that the Weapon to combao poverty and unemployment is an economy is to embark on a massive and rapid development of modern industrial sector. Events have proved this to be a general disillusionment especially when the performance of these industries showed that they performance of these industries showed that they cannot adequately provide answer to the economic and social problem of the economy.
Consequently, there is now a wide spread campaign and deep interest in Nigeria today in development of industrial sector as a better alterative strategy towards self – sufficiency and complete economic independence.
The industrial sector now seems to constitute the growth sector of the economy. Ironically however, this sector has suffered the worat neglect from both the nation’s policy makers and the formal financing sources.
Although finance is not the only problem confronting industrial sector, over conviction is that with adequate financial facilities, they can successfully surmount other problems. As well be shown later a well organized stock market that takes into account the social – cultural background of the people and the centre of its deigns the needs of the economy should be able to rescue industrial sector of their financial impasse and endure a quick recovery of the economy.
1.2 STATEMENT OF THE PROBLEMS
The basis of this project research is on the contribution of stock market toward the industrial development in Nigeria.
It becomes inevitable that we should review the economic situation of the last two and a half decades to justify our stand that the stock market has a leading role to play revitalization in industrial sectors. Both government and companies obtain loan with ease. Where government has needed to secure foreign these can also be easily obtained as foreign credit considered government sufficiently credit worthy. There was less – enthusiasm by the government and company to raise finance than the domestic capital market to raise finance from the domestic capital market.
The has accounted for the growth of the market until the promulgation of the indigenization decreases decrees of 1972 and 1980, which forced some enterprises to seek exercise, there has been no major development in the market to enhance industrial rapid growth in the industrial economy.
Hence, the effectiveness of stock exchange market in achieving the desired improvement in the sector is questionnaire.