Statistical Analysis of the Impact of the Stock Market on Nigeria's Economy from 1988 To 2022

This study investigates the connection between stock market performance and Nigeria's economic growth spanning the years 1988 to 2022. The primary aim is to evaluate the impact of key stock market indicators—such as the AllShare Index (ASI), Volume of Trade (VOT), and Market Capitalization (MKTC)—on the nation's Gross Domestic Product (GDP). Drawing on annual time series data, the research employed descriptive statistics, correlation analysis, and multiple regression techniques to analyze the data. The results indicate strong positive relationships between GDP and the selected stock market indicators, with ASI, VOT, and MKTC together explaining 83.2% of the observed changes in GDP. The regression analysis reveals that all examined variables play a crucial role in shaping economic growth. The study concludes that an effective stock market plays a vital role in boosting Nigeria’s economic development by facilitating efficient capital allocation and enhancing investor confidence. To maintain economic progress, it recommends improving market infrastructure, increasing transparency, and introducing public financial literacy initiatives