GROWING THE NIGERIAN ECONOMY THROUGH THE CAPITAL MARKET: PERSPECTIVE ON THE NIGERIAN STOCK EXCHANGE

Ojuye Thomas E.

Department of Accountancy

Delta State Polytechnic, Ozoro

E-mail: thomasojuye@gmail.com

ABSTRACT

The stock exchange is a major financial institution in the capital market. The Exchange provides the medium for the raising of long term funds for commerce and industry through sale of stocks, bonds and shares, which enables an individual to become owners in such organization. The study examines the role of the Nigeria Stock exchange, Its members, its primary and secondary markets. It discussed ways through which growth can be achieved in the Nigeria Economy. It also discussed ways through which economic growth can be achieved. These include stag-investing, share price appreciation, dividends payments, rights issues, bonus shares, use of share certificates as collaterals for loans and overdraft and bequeathal of shares to one’s dependants. Lucid examples were given to illustrate the benefits of investing in shares. Steps to be taken in buying or selling stocks and share were talked about in addition to how to monitor one’s investments in shares. Recommendations were given which included increase in personal savings and ploughing them into the purchase of stocks and shares. It was also recommended that investors should constantly read the Daily Official List of the Stock Market so as to monitor shares prices movement, and thus guided on when to buy more shares or sell.