GASPRO International Journal of Eminent Scholars

ABSTRACT

This study sought to assess the contribution of the Bond Market to the Nigeria Economy.

Descriptive research design was adopted for the study. The study was conducted in Akwa Ibom

State. The population of the study comprised all the annual data of all the variables for the

period of ten (10) years. The total number of data which constituted the population in this study

was fifty (50). Convenience sampling technique was used to select 10 respondents which

constituted the sample size for the study. The Main Instrument used in this study was a

questionnaire titled “Bond Market Contribution to the Nigeria Economy Questionnaire”

(BMCNEQ)”. Face and content validation of the instrument was carried out to ensure that the

instrument has the accuracy, appropriateness, completeness and the language of the study under

consideration. Cronbach Alpha technique was used to determine the level of reliability of the

instrument. The reliability coefficient obtained was 0.84 and this was high enough to justify the

use of the instrument. The researcher subjected the data generated for this study to appropriate

statistical techniques such as descriptive statistics and simple regression. The test for

significance was done at 0.05 alpha levels. However, the study concluded that bond market holds

a lot of positive prospect for the economy through its alternative financing role, diversification of

risks, stimulation of capital investments and mitigation of bank’s financial crises through its

alternative financing function and stimulating infrastructural development amongst others. Also,

that there is significant influence of contribution of the bond market on the GDP of the country.

One of the recommendations was that federal government should make concerted efforts to

position the Nigeria bond market as the pivot of socio economic development of the country.

KEYWORDS: Bond Market, Nigeria, Economy, Contribution