Abstract
This study examined the impact of Nigerian capital market on economic growth and development between 1990 and 2011. Data were collected from Security Exchange Commission reports, Nigerian Stock Exchange Review Reports, Central Bank of Nigeria Statistical Bulletin respectively and ordinary least square method of regression was used with aid of STATA version 10 software packages to analyze the data. The result showed that capital market indices have impact significantly on the GDP. The study recommends among others that government should put up measures to build up investors’ confidence in the capital market by fair transactions, increase investments instruments in the market, provide basic infrastructures and disabuse the mind of investors from buying and hold securities syndrome.