Bank financing boosts Nigeria's industrial sector growth, study finds.
The study looked at how banks lending money affects the growth of industries in Nigeria. They found that when banks give more loans and money to businesses, the industrial sector grows. This means that banks play a big role in helping industries in Nigeria to do well. The researchers used data from 2004 to 2018 to see how bank loans, money supply, and interest rates impact industrial growth. They found that when banks give more loans and money, the industrial sector grows. The study suggests that banks should keep supporting industries by giving them loans at lower interest rates to help them grow even more.