Economic and Financial Review


F.O Odoko


Central Bank of Nigeria, Research Department.


Bond market, Treasury bonds, Corporate bonds, Inflation, Macroeconomic stability, Nigeria


Sustained long-term economic growth development requires investment which, in turn, is dependent on long-term finance. However, the bulk of finance available in Nigeria has been short-term bank finance. Finance from the capital market, though rising, has been low. The paper reviews the performance of a segment of the capital market, the bonds market, in order to understand its poor performance and put forward suggestions for its revitalization. Macroeconomic as well as structural factors have been responsible for the poor performance. The major suggestions for revitalizing the market are improvement in macroeconomic environment, structural and institutional reforms, including providing rediscounting facilities, enhancing government patronage, rating of bonds and improving surveillance of market operators.





Recommended Citation

Odoko, F.O, (2002). Towards developing a vibrant bonds market in Nigeria. Economic and Financial Review, 40(1), 1-24.



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