This research work focuses on problems facing emerging stockmarkets in Africa with the Nigerian Stockmarket as a case study. The purpose of every meaningful research is to discover answers to questions, and solutions to problems through application of standard procedures. Therefore, in carrying out this work, it became necessary to gives an introduction. Specifically, the statement of problem, purpose of study, scope and limitation of the study, the methodology of research and terms used were defined and examined. Since the stockmarket is generally considered a dark area, and more importantly, to expand the background of the study, a comprehensive review of literature was done. Therefore, the meaning of stockmarket, its role in a national economy, the stock exchanges in Africa and their performance were all examined and discussed. Furthermore, the historical perspective of the Nigerian Stockmarket was considered with particular reference to; its development, the roles of the market regulators and operators, how the market operates, recent changes in the market, international perspective of the market and its operational problems. Finally, to provide solutions to the Research problem, instruments were designed, data gathered, analysed and interpreted. The Nigerian Stockmarket would have excelled were it not for the teething and fundamental problems discovered. Recommendations were made and if implemented, the Nigerian stock market will certainly excel and in time to come be given a seat among the world acclaimed advanced stockmarkets.