Select Currency
Translate this page


Format: MS WORD  |  Chapter: 1-5  |  Pages: 67  |  1965 Users found this project useful  |  Price NGN3,000







Nigerian financial system comprises the financial markets and financial institutions. Financial market refers to a framework within the financial system for the buying and selling of short and long term funds. Financial markets are mechanism for facilitating the issuance of securities. They provide the system for issuing stocks, bonds, and other securities. Financial markets can therefore be said to mean an arrangements or structure for exchange of financial instrument. Financial market can be divided into two. Capital market and money market.

Capital market is the hub of   the   National economy as the pivot for capital formation (savings) and investment. It therefore, plays a vital role in wealth creation, employment generation, poverty reduction and income redistribution.

As it’s popularly known, the Nation Economy Empowerment and Development Strategy (NEED) of the Federal government of Nigeria is predicted on four key strategies viz reforming the way government works and its institutions, growing the private sector, implementation of a social charter for the people and reorientation of the people with an enduring African Value System. In growing the private sector by the use of appropriate strategy elements such as revitalization deregulation and liberalization programmed amongst others. The mobilization of medium and long-term investment capital is encouraged where the capital market is expected to play a major and critical role.

The capital market provides a veritable framework, the institutional and regulatory platform for realization of the lofty goals of the NEEDS Agenda. In the absence of the capital market, industrial growth would be hampered, as the money market is not designed to provide such funds. An efficient capital market mobilizes funds and allocates a greater proportion to those companies with the highest prospective rates of return after giving the allowance for risk. This allocation function is critical in determining the overall growth of the economy. 

The Nigerian capital Market has strong impact on the Nigerian economic society. Every aspect of the economy could participate by getting listed on the Nigerian stock exchange. The capital market is a good place for long-term capital generation and thus, has a strong impact on industrial development and further helps develop the economy. The enlightenment of the public on the impact of the capital market could be a strong determining factor towards economic growth as organizations and individuals alike could participate in the market at their different levels.

Capital market is a financial market that provides facilities for mobilizing and dealing in medium and long term funds. The players on the capital market are the operators who act as intermediaries between the providers of the funds and the fund users. Cooley and Roden (2009:42) see capital market as any place where securities greater than one year are bought and sold.

The Nigerian capital market is two, which can be broadly classified into primary market and secondary market. 

Primary market is a market where new securities are issued. According to Anyafo (2004), primary market is a segment of capital market where securities are first issued and it is sometimes refers to as the new issues market, securities sold in the primary market being launched into the market for the first time. In other words, it is a market for buying and selling of virgin securities. Examples of primary market are issuing house.

Secondary Market is a market for trading for existing securities. In other words, secondary market is a re-sale market where investors buy and sell previously issued securities which Emekekwue (2000) in fun referred to as bend-down boutique. Example of secondary market includes Nigeria stock exchange, the activities of brokers and dealers.


The capital market is not void of problems: the limited numbers of available instruments traded in the market were discriminated in favour of large firms; the problems of unclaimed dividends among others have been able to hinder or draw back the swift/ function of the capital market in Nigeria. Also, considering the underdeveloped state of the Nigerian Stock Exchange, what could be done to position it strongly as its western counter parts. Thus, the study focuses, on the assessing the role of capital market towards the Nigeria economy.


The objectives of the study includes:-

(1)             To ascertain the role of the capital market towards the growth of the Nigerian economy.

(2)             To examine whether the establishment of capital market in Nigeria is justifiable.

(3)             To identify the vital function performed by the primary market in Nigeria.

(4)             To identify the causes of the recent Nigeria capital market melt down.

(5)             To identify the role of secondary market in Nigeria     capital market. 


The study seeks to provide answers to the following questions:-

(1)      What is role of the capital market towards the growth of the Nigerian economy? 

(2)      Is the establishment of capital market in Nigerian Justifiable? 

(3)      What is the vital function performed by the primary market in Nigeria?

(4)      What are the causes of the recent Nigerian capital market melt down? 

(5)      What role is played by the Nigeria secondary market?


In embarking on this study the researcher has the following hypotheses to be tested:

(1)H1: The role of the Nigerian capital market is to mobilize long term funds, create wealth and generate employment.

H0: The role of the Nigerian capital market is not to mobilize long term funds, create wealth and generate employment.  

(2)H1: The        establishment        of       capital         market         in       Nigeria      is justifiable.

H0: The establishment of capital market in Nigeria is not justifiable.

(3)H1: The vital function performed by the Nigerian primary Market is to facilitate buying of virgin securities.

H0: The vital function performed by the Nigerian primary market is not to facilitate buying of virgin securities.

(4)  H1: The recent capital market melt down in Nigeria was as a result of inadequate infrastructural facilities and high production costs.

H0: The recent capital market melt down in Nigeria was not as a result of inadequate infrastructural facilities and high production cost.

(5)  H1: The role played by the Nigerian secondary market is buying and re-selling of previously issued securities.

H0: The role played by the Nigeria secondary market is not buying and re-selling previously issued securities. 


The study is significant in a number of ways.

It will help future students to read and know much about capital market in Nigeria.

It will also serve as a reference material for future researchers.


The study focuses on Assessing the Role of the Capital Market towards Nigerian Economy, Performance of capital market, the role of the capital market in economic development, the meltdown of the Nigerian capital market, causes, consequences and future of the Nigerian capital market, primary and secondary markets.


The major constraints of the study include, Attitude of the respondents, time constraint, and financial constraint.

Attitude of the respondents: Some of the respondents were unwilling to cooperate with the researcher since they derive no financial benefit from the study.

Time: the researcher was constrained by time; he could not visit all the places where data and information relevant to the study could be obtained. 

Financal Constraint: A lot of money is required in data collection, analysis and interpretation. The researcher is constrained financially.


Market Price: The prevailing price of security in the stock market.

Liquidity: The ease at which a financial instrument can be converted into cash.  

Issued Capital: The portion of the authorized capital of a company which has actually been issued to subscribers (investor) which may or not have been paid for

Accrued Dividend: The regular dividend considered to be earned but which has not been declared on legally issued stock or other instruments or part ownership of a legally organized or financial institution

Stock Exchange: Organization, which provides facilities for trading in securities by its member and also sets rules for the admission and trading of exiting securities as well as to guide the business conduct of members.

Venture Capital: Money which is invested in a commercial venture with an uncertain chance of success, hence, such money is called risk capital.

Shareholder: An individual or institution having ownership interest in a company and this entitle to certain right and privilege according to holders of equity shares.  

Company Capitalization: This is the total amount of equity investment in a company that could also include long-term debt that considered by the company and debt holders as an investment in the company.

Capital market; This is a network of specialized financial institutions that in various ways bring together supplies and users of fund in a long term purpose.

Securities: Securities are written or reported document by which chain of holders in specified property are secured, this could be stock, shares or bonds.

Automate Trading System.  A security trading arrangement where by transaction on the stock exchanges are achieved through network of companies.

Primary Market: This is a market where new securities are issued.

Secondary Market: This is a market for trading existing securities.

Market Operators: Consisting of the issuing houses, (merchant bank) stock broking firms, trustees, registrars etc. 


Not What You Are Looking For?

For Quick Help Chat with Us Now!

+234 814 010 7220

+233 541 351 187

Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Swift delivery within 9 minutes of payment. Thank you project master
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.


  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on +234 814 010 7220 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.


How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 814 010 7220

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!