ABSTRACT

Reliable study of dividend policy is seen to depict an essential pre-requisite for stock market valuation and growth. It is believed that efficient stock market valuation which is an engine of economic growth explain why developed nations do not toy with their Share Market price valuation. This indeed explains the relevance of the share market prices and of' corporate/financial reporting in today's emerging financial scenario in Nigeria. Investors require information about the Stock Market valuation to take informed investment decision. One of the ways this information is received is through published financial statements or accounting information released through other Orleans. Adequate stock market price information is essential for efficient functioning of capital markets and economic growth of Nigeria and any other nation. The development of stock market valuation is dependent on the integrity of Corporate/ financial reporting process. It also depends Of the company earnings per shares,  payout and other proxy variables. Deficient Stock Market valuation information generates little confidence and hence, low investment which invariably a fleets the economic growth. The timeliness, relevance, understandability and completeness of Stock Market information of any oil and gas company will increase 2 the investors' confidence to commit their funds to it. This will lead to the viability of the Stock Market.