Proceedings of 6th International Business and Social Sciences Research Conference
3 – 4 January, 2013, Dubai, UAE, ISBN: 978-1-922069-18-4
CONSTRAINTS OF FINANCING LONG-TERM DEBT THROUGH THE
NIGERIAN CAPITAL MARKET
IBRAHIM GONDAH MALE
DEPARTMENT OF BUSINESS ADMINISTRATION, BAUCHI STATE UNIVERSITY GADAU, NIGERIA
Email:gondahmale@yahoo.com
Phone: +2347033417299
ABSTRACT
Long-term debt financing through capital market plays a vital
role in stimulating industrial as well as economic growth and
development. This paper examines the constraints of financing
long-term debt through the Nigerian capital market and proffer
possible solution to the problem. The study uses contextual
review of related research works. The findings of this research
work show that capital market has contributed to financing of
long-term debt. The performance of the funds obtained from the
market was efficient. Capital market has also contributed to the
development of Nigerian Economy. The study found that, low
subscription, stringent listing requirement, high brokerage fees
and inadequate funds in the market are the constraints
militating against the market. It is recommended that, listing
requirements in the market should be viewed to reflect the
peculiar nature of Nigerian economy. Number of electronic
trading floor should be increased.