Abstract
The project examines the structure of the Nigerian capital market and its impact on economic development in Nigerian Stock Exchange. The study main objective is to ascertain the means of raising funds in Nigeria capital market and also to find out if the capital market has any significant impact on the masses. The primary source of data collection was used in gathering data from respondents. A structure questionnaire was designed by the researcher and validity by two experts from the statistics department was used to obtain data and chi-Square (X2) was used to test hypotheses formulated. It was discovered ignorance of the public as to the benefits derived from being a listed number of the capital market has contributed much to the low level of trading in the stock market. The study concludes that the capital market does not have a tremendous impact in the capital market because the more the companies in the market, the higher the rate of expansion it will have. Based on the findings the study recommends amongst others that tax laws should be reviewed by the federal government to see that the tax burden on those who invest in the capital market is reduced to nearest minimum so that investors will be encouraged to invest more.
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
The Nigerian capital market is a part of the Nigeria financial system. The Nigeria financial system has been the life wire on which the Nigeria economy pilots its macro-economy variables. For any economy to be able to take care of her responsibilities i.e. the citizen adequately, it must have a very strong financial system.
The financial system refers to a set of rules, regulations, aggregation of financial arrangements, institutions and rest of the world to increase economic growth and development of nation. It does this by providing a medium of exchange which promotes specialization, mobilization of facings from the surplus units and channeling into the deficit units of the economy for productive capacity and over all output and employment (Akinsulire, 2011).
The Nigerian financial system has evolved over the last few decades from a rudimentary to a more sophisticated one with numerous institutions and operators that facilitate the performance of the primary role of the system savings, mobilization and allocation of resources among competition units within the system.
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