With automation, deregulation and globalisation, the Nigerian capital market has become more automated, efficient and internationalised. However, the high level of illiteracy which doubles with the low level of awareness along with other problems like poor infrastructure among others have served as impediments and clogs in the wheel of the capital market's growth and development. This study has attempted to assess the extent of growth and development and tried to proffer solutions as to how the Nigerian capital market can meet up with international standards. It has tried to also make a forecast of the future in a bid to predict its performance by 2010. Findings reveal that even though the stock exchange performance is not too satisfactory, a crystal look at the political dispensation in the country and the government policies on privatisation, deregulation and response to automation and globalisation as well as government's effort to improve on our SMEs, and infrastructure particularly the Telecommunication Industry, there are great prospects of the exchange. There is the tendency that in the next decade, the Nigerian capital market will not just be a leader of the emergent markets but will be transformed to be one of the global advance stock markets.