THE IMPACT OF NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA
ABSTRACT
Many developing countries including now regard rapid industrialization as one of their major economic growth. The project work concentrated on the impact of the Nigeria stock exchange in economic development of Nigeria.
Therefore it has become imperative for capital deficient countries to establish an institutional frame work that will enhance the mobilization of savings. In carrying out this research, attention was focused on some areas like: The functions and changes in the Nigeria stock exchange.
Both primary and secondary sources of data were used. Primary data is the data collected through administration of mail questionnaires. While secondary data is the data collected from textbooks, journal etc. The total number of 20 questionnaires was retrieved from 40 administered.
Tables are used to analyze the data. Based on the findings it was recommended that government should bring out policies that will enhance the activities of the Nigerian stock exchange.
CHAPTER ONE
1.0 Introduction
1.1 Background of the Study
Both the developed and the underdeveloped countries of the world operate a stock exchange market where securities of various categories are visited for trading. These could be government stocks, industrial loans (debenture /preference stocks) or Equity/ordinary shares.
Nigeria, one of the undeveloped, sub-Saharan African economics, is not an exception. She owns and operates a stock exchange called the Nigerian Stock Exchange (NSE) the main focus of this research work. The hitherto, Lagos Stock Exchange (LSE) established in 1960 later became the Nigerian Stock Exchange (NSE) in December 1977, with branches in some of the major commercial cities of the country.
Most of the listed companies in the Nigerian Stock Exchange have foreign/multinational affiliations and represent a cross section of the economy, ranging from agriculture through manufacturing to services thus; the Nigerian stock Exchange is directly hinged to the Nigerian economy. To this end, this research work consolidates and brings to the open, the Nigerian Stock Exchanges in the following areas
- Meaning,
- History,
- Objectives and function,
- Integrity,
- Trading and pricing,
- Clearing, delivery and settlement,
- Stock Market Legislations and regulation,
- Internationalization of the stock market,
- The All—share index and,
- The Impact so far on the economy of the country.
It is no doubt that the Nigerian Stock Exchange fared well in the past decades until the recent global financial crisis hitting adversely on the countries of the world, especially the sub — Saharan African economies including Nigeria; the hitherto stable and smooth operations of the NSE have been slightly shaken, relative to other sub —Saharan African economies such as the democratic Republic of Congo, Angola, Botswana and others, by the worldwide financial crisis since late last year (March 11, 2009 Reuters).
Nigeria has been clouded by falling prices for energy exports on which the government relies for other 80 percent of revenue, the Naira has fallen about 20 percent since the start of the December Last year and the budget foresees, an increase in spending that will take the deficit to at least 3 percent of gross domestic product (GDP) Growth has been forecast at 8 to 9 percent (Reuters), but continued how oil prices through 2009 could reduce that rate. Efforts to defend the currency and capital markets, such as the reimposition of currency controls have raised concerns over where Nigeria is headed. Based on the foregoing global financial crisis, this research work also among other related matters, covered extensively the impact of the global financial crisis on the NSE and the Nigerian economy as well as efforts so far made to withstand and survive the tumbling world prices.
1.2 Statement of Problem
The Nigerian Stock Exchange like other stock markets worldwide is expected to work in synergy for efficiency and reliability in achieving set goals mostly in times of economic challenges. Therefore, the extent to which the Nigerian stock market put in place a network of intermediating organizations that can effectively and creditably meet the challenges and growing needs of both local and foreign investors and subscribers, mostly in this period of global financial crisis and economic recession is a major problem that prompted this research work.
1.3 Objective of the Study
The Objectives of this research work is to bring to the student community and the public at large reliable information on the Nigerian stock exchange and the impact of the recent global financial crisis on its operations.
1.4 Statement of Hypothesis
Ho: The recent global financial crisis affects the operations of the Nigerian Stock Exchange.
HI: The recent global financial crisis did not affect the operations of the Nigerian Stock Exchange.
1.5 Research Questions
- Is the Nigerian Stock Exchange really affected by recent global financial crisis?
- Did the global financial crisis have impact on the operations of the Nigerian Stock Exchange?
- Should one have trust in the Nigeria Stock Exchange (NSE)?
- Has the internalization of the NSE been a welcomed development?
1.6 Significance of the Study
This study is desirable because it will be a source of information to the student community, business organizations and various individuals who wish to have knowledge of what is happening in the Nigerian Stock Exchange (NSE) within the period covered by the study, and how NSE and Nigerian economy coped with the global financial crisis characterized by tumbling world prices which slashed oil revenues and reduced the value of the Naira.
1.7 Limitation of the Study
The major limitations to this research work are inadequate finance, time factor, locations of the Nigerian Stock Exchange branches relative to my institution and others.
1.8 Scope of the Study
The scope of this study is limited to the structure and operations of the Nigerian Stock Exchange (NSE), and the impact of the recent global financial crisis on the NSE and the economy as well as efforts made towards meeting up with the attendant challenges.
This research work covers a five year analysis of the operations of the Nigerian Stock Exchange (2004-2008).
1.9. Definition of Terms
Stock:
These are shares in the capital of the company. The holders of these shares received dividends. It is also the bundle of shares.
Bond:
This is a credit instrument and the holder of it is a creditor who receives a specified amount of interest on the principal amount together with the principal.
Debenture:
This is a document which contains an acknowledgment of indebtedness
Stock Exchange:
This is market where securities are bought and sold. It provides facilities for company's and government to raise money from the citizens for business and project development.
Broker:
This is a person on firm authorized by law to deal with all bonds and stock quoted in the floor of Nigeria Stock Exchange.
Investor:
A person or institution that uses his savings or borrowings to buy securities.
Securities:
These are written or printed documents by which the claims of holders in specified property are secured.
Issuing House:
As a member of stock exchange, it is a firm that help to prepare prospectus and to sell shares offered to the public by company's and government.
Right issues:
These are shares offered to the existing shareholders in proportion to the number of shares held and usually at below market prices to make the offer attractive.
Private placing:
This is a system of raising funds from the market whereby the stocks of a company are placed with a stockbroker who then seeks out prospective purchasers.
Shares:
A share is a security evidencing part ownership in a company. It is a unit of ownership interest which a holder has in a business unit translated into financial terms
Public placing:
This is describes as where a firms shares are quoted on the stock exchanged.
Offer For Sale:
This is a system where by existing share holders offer their shareholding as part of them for public subscription.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
The Impact of Nigeria Stock Exchange in the Economic Development of Nigeria (A Case Study of Nigeria Stock Exchange Owerri) can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
- 1.0 Introduction
- 1.1 Background of the Problem
- 1.2 Statement of the problem
- 1.3 Objective of the study
- 1.4 Statement of Hypothesis
- 1.5 Research question
- 1.6 Significance of the Study
- 1.7 Limitation
- 1.8 Scope of the study
- 1.9 Definition of terms
- 2.0 Review of Literature
- 2.1 Introduction
- 2.2 History of Nigerian Stock Exchange
- 2.3 What is stock and stock Exchange
- 2.4 Classification of the Nigerian Stock Market
- 2.5 Objectives and functions of Stock Exchange
- 2.6 Methods of dealing in Nigeria Stock Exchange
- 2.7 Operation of the Nigerian Stock Exchange and its impact on the economy.
- 2.8 The Causes of the global financial crisis.
- 2.9 The impact of Global financial crisis on the operations of the Nigerian Stock Exchange
- 2.10 The Efforts made towards contending the global Financial crisis
- 3.0 Research Methodology and Hypothesis
- 3.1 Research methodology
- 3.2 Population of the study
- 3.3 Sample size and method
- 3.4 Source of data collection
- 3.5 Description of Questionnaire
- 3.6 Method of data analysis and statistical test
- 3.7 Hypothesis Testing.
- 4.0 Data Presentation and Analysis
- 4.1 data presentation and analysis of data
- 4.2 Summary of responses and interpretations
- 4.3 Test of Hypothesis Based on findings
- 5.0 Summary, Conclusion and Recommendation
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendation
- 5.4 BIBLIOGRAPHY
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Nigeria Stock Exchange in the Economic Development of Nigeria" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
- 1.0 Introduction
- 1.1 Background of the Problem
- 1.2 Statement of the problem
- 1.3 Objective of the study
- 1.4 Statement of Hypothesis
- 1.5 Research question
- 1.6 Significance of the Study
- 1.7 Limitation
- 1.8 Scope of the study
- 1.9 Definition of terms
- 2.0 Review of Literature
- 2.1 Introduction
- 2.2 History of Nigerian Stock Exchange
- 2.3 What is stock and stock Exchange
- 2.4 Classification of the Nigerian Stock Market
- 2.5 Objectives and functions of Stock Exchange
- 2.6 Methods of dealing in Nigeria Stock Exchange
- 2.7 Operation of the Nigerian Stock Exchange and its impact on the economy.
- 2.8 The Causes of the global financial crisis.
- 2.9 The impact of Global financial crisis on the operations of the Nigerian Stock Exchange
- 2.10 The Efforts made towards contending the global Financial crisis
- 3.0 Research Methodology and Hypothesis
- 3.1 Research methodology
- 3.2 Population of the study
- 3.3 Sample size and method
- 3.4 Source of data collection
- 3.5 Description of Questionnaire
- 3.6 Method of data analysis and statistical test
- 3.7 Hypothesis Testing.
- 4.0 Data Presentation and Analysis
- 4.1 data presentation and analysis of data
- 4.2 Summary of responses and interpretations
- 4.3 Test of Hypothesis Based on findings
- 5.0 Summary, Conclusion and Recommendation
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendation
- 5.4 BIBLIOGRAPHY
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Nigeria Stock Exchange in the Economic Development of Nigeria" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “The Effect of Leadership in Public Sector Performance” be used as a guide for Public Administration (PA) Project?
Yes it can be used — This work was aimed at investigating the effect of leadership in public sectors performance for cost effectiveness and thoroughness, the researcher concentrated on the federal ministry of labour and productivity, the causal comparative research design like employed and structured questionnaires were administered to a sample size of 103 workers representing employees on grade level of 01-16 spanning the prime department in the ministry. Some of the major recommendations includes the removal of obstructive attachment that hinders democracy in the public sector and the need to grant leaders the power to motivate any efficient officer under them by way of promotion and monetary and non monetary incentives rather than writing for a general promotion of workers. …
Can the material for “Analysis of Effect of Flood on Livelihood and Adaptation Measures of Smallholder Crop Farmers” be used as a guide for Agricultural Engineering (AE) Project?
Yes it can be used — This study evaluated the effect of flood on farm families in Delta State. It specifically described the socioeconomic characteristics of smallholder crop farmers in the study area, identified the causes of floods in the study area, evaluated the economic effects of flood hazards on smallholder crop farmers, examined the vulnerability of smallholder crop farmers’ families to floods in the study area and identified adaptive strategies for mitigating the negative effects of floods on smallholder farm households. 180 smallholder famers were randomly drawn from 12 communities that covered six local government areas including; Oshimili South, Ndokwa East, Ughelli North, Udu, Isoko North and Patani local government areas. Data were collected from both primary and secondary sources and analysed through the use …
Can the material for “Gender Factor in Mathematics Performance Among Senior Secondary School Students” be used as a guide for Mathematics Education Project?
Yes it can be used — This study examined the effect of gender on academic performance of Senior Secondary students. The sample consisted of two hundred and twenty three (223) students; one hundred and thirty-six (136) males {60.99 %}, and eighty seven (87) females {39.01%}. This study adopted the ex − post facto design using the students’ performance in Mathematics MOCK SSCE result of some schools randomly selected in Gbagada / Bariga Area of Lagos. The t − test analysis was used to analyse the data collected and to test the hypothesis. The result showed that there was a significant difference in mathematics performance of male and female students in favour of male students. It was recommended that similar studies be carried out to cover both Secondary …
Can the material for “The Impact of Training and Development on Higher Productivity” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — This research is aimed at discovering the impact of impact of training and development high productivity in BEECHAM PLC To guide this study there are problem associated with the study which are passed on finding some major finding are that the staff training and development needs are not determined the objective of the training development programme could not be achieved to some extent employees are not motivated to increase their capabilities; and the study also seek to answer the question of how well has training and development help the overall productivity of SmithKline Beecham Nigeria PLC; the method employed in the training and development of staff within the organization: what contribution have training and development made to solve the problem of …
Can this topic “The Impact of Agriculture on Economic Growth in Nigeria” be used for Architecture Project?
Yes it can be utilized for research — This study examined and analysed the impact of agriculture on economic growth in Nigeria. It adopted the secondary data sourced from Central Bank of Nigeria covering the period 1985 to 2010. The study employed the modern Time Series of the Ordinary Least Square to test for the relationship between agriculture and economic growth in Nigeria. The results derived infer that there exists a significant relationship between agriculture spending and economic growth. The null hypothesis stated for this study does not hold. What this implies is that agriculture revolution is a determinant to economic growth. Thus, it is important that the government placed greater emphases on this sector by increasing budgetary allocation to agriculture in Nigeria in other meet the recommendations of …
Can the material for “Effects of Unhygienic Practices on the Health of People and Its Environment” be used as a guide for Public Health Project?
Yes it can be used — The study was carried out to investigate the Effects of Unhygienic Practices on the Health of People and its Environment. Investigation revealed that despite awareness of the risks associated with unhygienic practices in schools, the issue of inadequate environmental hygiene has continued to pose a hazard to people's urinary systems. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 200 (two hundred) residents were selected for this study to represent the entire population of the study. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, newspapers and …
Can this topic “Nurses’ Role in Prevention of Infant and Under-Five Child Mortality in Africa” be used for Nursing (Science) Project?
Yes it can be utilized for research — Mortality rate, or death rate, is a measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time. The study was carried out to examine and identify the Nurses' Role in Prevention of Infant and Under-Five Child Mortality in Africa. In achieving this aim, the following specific objectives were laid out to determine the position of nurses in consideration to childhood deaths and examine the challenges nurses face in dealing with child mortality in Africa. Investigation revealed that inspite the significant progress made in recent years to reduce under-five mortality, significant inequities between and within countries continue to exist. These are not only driven by poverty, but are intrinsically linked …
Can this topic “Online Seaport Billing Generating System” be used for Computer Science (CS) Project?
Yes it can be utilized for research — Seaport Billing System is Software designed to handle time and billing tracking as well as invoicing customers for services and products as well as monitoring an individual water transportation bill. It can track the hours worked by employees as well as expenses associated with projects or clients. The motivation for executing seaport billing system is that fills and records are not properly kept, errors are easily made and hardly detected and a lot of time is wasted to prepare bills. The operations of the new objective will provide proper customer fills and records, to totally eliminate the errors associated in customer bills and to reduce the amount of time required preparing a bill by developing an ease and efficient automated …
Can the material for “Food Consumption Pattern, Anthropometric Indices and Micronutrient Status of Children Aged 6 - 59 Months” be used as a guide for Agricultural Engineering (AE) Project?
Yes it can be used — The study was carried out to assess the Food Consumption Pattern, Anthropometric Indices and Micronutrient Status of Children Aged 6 - 59 Months in Sokoto State, Nigeria. In achieving this aim, the following specific objectives were laid out to determine the food consumption pattern of under-five children and determine the relationship between socio-economic status of the parent and their nutritional status (children). Anthropometric information was determined using age, height and weight of the children. Haemoglobin (Hb) was used to determine anemia, serum retinol was used to determine vitamin A status and also iodine was determined using urinary iodine excretion level (UIE). Anemia was defined as Hb < 11.0mg/dl, Vitamin A deficiency was defined was defined as reading ≤ 10g/dl and marginal …
Can this topic “Design and Implementation of Computerized Customer Help Desk System” be used for Computer Science (CS) Project?
Yes it can be utilized for research — Customer help desk is a system that ensures all issues are ticketed and monitored such that tickets are never left unattended, forgotten, or lost. The customer help desk has a Human Resource System with a single purpose of maintaining sensitive information that is required for a few key employees outside of HR. The aim of the study is to design and implement a Computerized Customer Help Desk System. In achieving this aim, the following specific objectives were laid out as follows to develop an application software that will maintain an efficient system of collection, sorting and delivery of customers’ information and Replace the manual method of documenting campus desk information and the error involved in checking customers’ information. The motivation …