Original Research Article | OPEN ACCESS
Trend and Patterns of Market Value of Listed Manufacturing Firms in Nigeria (2008 -2018)

Yisa A. Adeniji

1Department of Accountancy, Yaba College of Technology, Yaba, Lagos State, Nigeria.

For correspondence:-     Email: adeniji.adeniyi@gmail.com

Received: July 23 2022        Accepted: September 26 2022        Published: 30 September 2022

Citation: Adeniji YA. Trend and Patterns of Market Value of Listed Manufacturing Firms in Nigeria (2008 -2018). Account Tax Rev 2022; 6(3):1-11 doi:

© 2022 The authors.
This is an Open Access article that uses a funding model which does not charge readers or their institutions for access and distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0) and the Budapest Open Access Initiative (http://www.budapestopenaccessinitiative.org/read), which permit unrestricted use, distribution, and reproduction in any medium, provided the original work is properly credited..



The study analysed the trend and pattern of the market value of firms quoted on the Nigeria stock exchange from 2008-2018. The study adopted an ex-post facto research design and used secondary data. The population of the study comprised 78 listed manufacturing firms quoted on the Nigeria Stock Exchange as of the end of 2018. A purposive sampling technique was used to select firms with up-to-date published financial data and whose stocks were traded on the Stock market totalling 56. The data were analysed using tables, percentages, and bar chat. The study showed upward and downward movements in the value of firms during the sample period. The market value increased from 2008 -2009 by 0.33%, declined in 2010 by 4.93% increased from 2011 to 2013 by 11.75% and decreased from 2016 to 2018 by 14.59%. A policy implication concerning this finding is that the study confirmed that Nigeria’s economy through the manufacturing sector is growing gradually. It is recommended that Nigeria need to intensify and formulate stable trade policies capable of promoting sustainable growth within and outside the country.

Keywords: Capital market, market value, manufacturing firms, investors, debt policy




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