Economics, Econometrics and Finance
3 years ago

Financial sector growth in Nigeria boosts economy, sparks positive change.

NEXUS BETWEEN FINANCIAL SECTOR DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA
Harrison Vincent, Suleiman A. S. Aruwa, Gimba John Toro

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The article examines how the development of the financial sector in Nigeria impacts the country's economic growth from 1986 to 2016. They used data from the Central Bank of Nigeria and found that a stronger financial sector is linked to higher economic growth. The study suggests that the Central Bank of Nigeria should focus on directing credit towards more productive private sector activities, and the Securities and Exchange Commission should work on strategies to improve the Nigerian Stock market.