Economic and Financial Review


Central Bank of Nigeria, Research Department.


Capital market, Development, Economic growth, Economy, Nigeria.


The capital Market in Nigeria had been influenced by various factors which are associated with the level of development of the Nigerian economy. The paper discusses the development of the capital market with emphasis on the period since deregulation in 1986. The institutions that are crucial for the delivery of financial services in the market were analysed with focus on their evolution, performance and prospects. The. market in Nigeria was compared with other emerging markets with the conclusion that the market, remains shallow and without the expected variety that characterised markets in countries at similar level of development. The prospects of the market appear to be bright considering the current posture of the government in the areas of privatization and commercialisation of government enterprises. Also, with appropriate regulatory framework that would guide the operators more effectively, the market could assume the expected role of providing long-term financing for the development of the economy.





Recommended Citation

Babalola, J. A. and Adegbite, M. A. (2001). The performance of the Nigerian capital market since deregulation in 1986. Economic and Financial Review, 39(1), 1–19.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.