The article discusses how capital markets play a crucial role in the development of the Nigerian economy by providing long-term funding for businesses and industries. By allowing companies to raise equity capital, the market helps them grow without relying too much on debt. Since the introduction of economic reforms in Nigeria, the country's capital market has grown significantly, offering cheaper and more flexible financing options. Despite the market's growth, it faces challenges due to globalization and the introduction of new financial instruments. Overall, a well-functioning financial system is essential for economic growth and development.