Nigerian Journal of Banking and Financial Issues (NJBFI)

The Role Of Financial Development In Nigeria’s Economics Growth

Abstract

This study examined the role of financial development in Nigeria’s economic growth over 36 years (1985–2020). The study's data came from the CBN statistical bulletin. Money supply and credit to private sector employers were highlighted as independent variables, whereas Gross Domestic Product served as the dependent variable. Using the E-view package's linear regression data analysis technique, the outcome shows a p value of .000 link between the money supply, loan to the private sector and GDP respectively. The study concluded that financial deepening significantly affects Nigeria's ability to survive.