Market-based financial structure plays a key role in the growth and development of all the leading economies in the Western World. The dismal performance of the market-based financial structure calls for concern in Nigeria. The objective of this paper is the examination of the impact of market-based financial structure on the growth of Nigerian economy, with emphasis on market capitalization, total value of transactions, total listed equities and government stocks and total new issues. The paper employs time series data from Central Bank of Nigeria Statistical Bulletin from 1980-2014. Econometric techniques are used to test the time series properties of the data and error correction mechanism is used for the estimation of the variables. The findings of this paper reveal that market-based financial structure significantly impacted on the growth of Nigerian economy. The joint performances of the variables in the model hold positive value for economic growth in Nigeria. The policy recommendation of this paper is that the government should make policy that will encourage firms listing in the capital market so as to improve on market capitalization and value of transactions in the market.