The paper examines the nature of relationship existing between stock market development and the level of investment growth in Nigeria. Secondary data collected from secondary sources, with the use of CBN Statistical bulletin of various years (2002 – 2012). The data collected was analysed with the use of regression statistical method. The study shows that there exist positive relationship between stock market and growth in investment in Nigeria. The study recommends that polices which will sustain the stock market growth should be embarked upon.