STOCK MARKET AND ECONOMIC DEVELOPMENT OF NIGERIA: A CASE STUDY OF LISTED MANUFACTURING FIRMS IN NIGERIA

Abstract

The study examines the impact of stock market on economic development of Nigeria. The stock market is a frequent characteristic of modern economies, and it is thought to serve several vital duties to promote economic growth and development. The study employed an ex-post facto design to offer data on the link between the Stock Market and Economic Development: A Case Study of Listed Manufacturing Firms in Nigeria. A panel data research was conducted utilizing information gathered from annual reports of listed manufacturing businesses trading on the Nigerian stock market. The findings showed that there is a positive relationship between the stock market and the economic development of the listed manufacturing companies in Nigeria. The research suggest that stock exchange market's first and most important task in raising public awareness of protections, that is to send out government-funded training initiatives like talks, symposium, studies, and courses to educate the general public about the roles of the securities exchange and the benefits they stand to gain by taking advantage of these potential open doors. Also, the controllers of the financial exchange should expand the quantity of foreign, private, and public financial backers taking part on the lookout, keep up with state of the art innovation like mechanized exchanging and settlement frameworks, electronic asset freedom, and the proceeded with dematerialization of actual offer exchanges, and improve and urge more financial backers to take part on the lookout.