American International Journal of Social Science Vol. 4, No. 2; April 2015 51 An Assessment of Nigerian Stock Exchange Market Development to Economic Growth Rabi’u Saminu Jibril MSc (Accounting) Department of Accountancy Kano State Polytechnic Nigeria Awaisu Adamu Salihi MSc (International Accounting) Department of Accountancy Kano State Polytechnic Nigeria Usman Sani K/Wambai PhD Accounting (In View), ACIT Department of Accountancy Kano State Polytechnic Nigeria Fatima Bello Ibrahim PhD Accounting (In View) Department of Accounting North West University Kano Sabo Muhammad MSc (Accounting), ACA Department of Accountancy Kano State Polytechnic Nigeria Tijjani Habibu Ahmad MSc (Forensic Accounting and Auditing), ACA Internal Audit Unit Hussaini Adamu Polytechnic Kazaure Nigeria Abstract This research investigates the effect of Nigerian stock exchange market development on economic growth using a 20 year time series data from 1990-2010. The method of analysis is ordinary least square techniques. The study measures the relationship between stock market development indices and economic growth. The stock market capitalization ratio was adopted as a proxy for market size while value traded ratio and turnover ratio were used as proxy for market liquidity. The study revealed that market capitalization and value traded ratio have a negative correlation with economic growth while turnover ratio has a strong positive correlation with economic growth. The policy makers and other institution relevant should put effort towards tuning market capitalization and value trade ratio into significant positive in the near future, so as to encourage economic growth in line with stock market development. Keywords: Nigerian Stock Exchange, Stock Market Development, Economic Growth