An analysis of the contribution of the Nigerian stock exchange to the structure of Nigerian economy : 1961-1990
Keywords:
Financial market, investments, economic structure, economy, NigeriaSynopsis
The battering received by the Nigerian economy in
the early 1980's'because of the fall in global oil
price brought the awareness of economic structure.
Nigeria' s economy· was mono-structured on ·crude oil
alone and there needed to be an adjustment.
Investment, especially private investment, needed
to be geared up, considering the fact that when investment
increases, there is a multiplier effect on the
general economy. Aggregate investment is represented
by real assets, which are visible to the eyes, and
their legal representatives called financial assets.
The latter have aided greatly in the accumulation of
the former as they are-sold to surplus fund units by
deficit fund units, and have thus played an important
role in accelerating the rate of economic growth.
The forum in which the financial assets are sold
to enhance the expansion of the stock of real assets
is the capital market of which the Stock Exchange is
the 11.bub" and "the most vital factor."
This research on the thirty years of the NSE
existence shows that government and financial institutions
dominate the Stock Exchange floor in real terms;
very little is known by the public aboutit as an
institution; it has done nothing consciously as an
institution to sell itself to the public, vis-a-vis
its basic founding objectives; and thus the saving
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Published
September 13, 1992
Series
Copyright (c) 1992 CODESRIA Books Publication System
