The Capital Market And The Challenges Of Real Sector Financing In Nigeria.
[A STUDY OF THE PERIOD 2000-2009]

For a detailed monthly activities index for the years 2000 to 2008 (See Appendix i).

The table 4.1B (i) shows the yearly all shares index (As at year end) for the years under study. Activities were on steady increase with year 2000 having the lowest activity index of 8111.01, while, year 2007 had the highest activity index 57,990.22 (that is, 74.73 percentage above year 2006 figure of 33,189.30.) But, in 2008 and 2009, the index value declined in relation to their preceding years (that is, index value for 2008 was 31,450.78 relative to the value in 2007 of 57,990.22, while, year 2009 index was 20,287.17 relative to year 2008 value of 31,450.78). In percentage terms, year 2008 had negative index 80 growth figure of 45.77 percent, while 2009 had a negative index growth figure of 33.77 percent. The drop in activities can be attributed to fall in the prices of stock following the reforms in the Banking sector in the period under study. Also, foreign portfolio investors due to global financial meltdown at this time disinvested from the market. Thirdly, the growth in activities during the period under study is attributable to banking sector recapitalization, as well as, the privatization policy of the Federal Government that saw the entry of new firms into the Nigerian Stock Exchange. Table 4.1B would be analyzed further using Bar Chart.

y axis        =   Value of all Share Index
x axis        =    Year
2 Units      =   5000 for y axis
1 Unit       =   1 Year for x axis