This study investigates the impact of fiscal and monetary policies on stock market performance in Nigeria using the Structural Vector Autoregressive (VAR) techniques. Using Yearly data covering the period 1981-2013, the VAR procedure was employed to empirically show the impact of fiscal and monetary policies on stock market performance. Results from the empirical analysis show that monetary policy has the capacity to influence stock market performance in Nigeria. Also, monetary policy shocks are not unstable in their effects on stock market. The results also show that fiscal policy impacts on stock market performance. In comparative terms, monetary policy appears to have a stronger effect on stock market performance than fiscal policy. However, there appears not to be any unsystematic response of stock market performance to shocks in both policies. It is therefore recommended that attention should be given to stock market reaction to monetary and fiscal policy moves. Consequently, the policy direction in this regard should be such that is able to stimulate the performance of the stock market.